Gulfshoreguy
Aug 14, 2008, 06:04 AM
I am a Florida resident with seven investment properties, all but one with mortgages. I wish to homestead one of the properties and occupy it and homestead it. I am in arrears 1-2 months on its mortgage.
If I homestead and occupy, can I avoid eviction? Realtors here say no... that the Flroida courts either 1) will not transfer ownership to the mortgagee or, if they do, 2) they will not force an owner out of their primary residence. What are the true facts?
Second, if a mortgagee forecloses on one property, can they obtain a judgement on any unsatisfied amount against one or several other of my properties?
If I homestead and occupy, can I avoid eviction? Realtors here say no... that the Flroida courts either 1) will not transfer ownership to the mortgagee or, if they do, 2) they will not force an owner out of their primary residence. What are the true facts?
Second, if a mortgagee forecloses on one property, can they obtain a judgement on any unsatisfied amount against one or several other of my properties?