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View Full Version : Foreclosure and Florida homestead law


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?

rockinmommy
Aug 14, 2008, 06:21 AM
I don't know of any homestead protection from foreclosure, unless you're in bankruptcy.

Once there are judgements against you they can attach to your 2nd, 3rd, etc properties - not your homestead.

ScottGem
Aug 14, 2008, 06:33 AM
florida homestead protection, florida bankruptcy (http://www.alperlaw.com/constitutional_protection.html)

That article seems to answer your question. The Homestead protection does not extend to mortgages.