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Hi,

I have several lots in Florida but cannot sell them at the moment because they have depreciated tremendously. I am in a situation that is very difficult, I guess a lot of people are going through the same thing. I am disabled at the moment and have not been able to pay my debts only house and car. I have land and was wondering if I am sued can they go after my land?

jameshogg · Posted: Wed Jan 14, 2009 7:51 pm Post subject:

Hi rechel,

If you are unable to pay off your mortgage and car loan, then the lenders can get a judgment against you and place lien on the land. However, I would suggest you to speak to your lender immediately and inform him about the hardships that you are facing. I guess you are already delinquent on payments. In that case, the lender may either offer you a short sale, deed in lieu or a loan modification. You can also check out the following link to know more about ways to avoid foreclosure:
http://www.mortgagefit.com/foreclosure/17ways-avoid.html

Thanks

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