I bought a home in Florida in 2005, moved in 2008 and have not been able to sell it even close to what owed. If I am retired and am not worried about loss of credit, what legal ramifications do I have if I let it go to foreclosure?

If the property is sold at auction or returned to the lender, you still owe the balance of the loan. The lender can still try to collect.

Have you tried a refinance, short sale, etc.

If the property is sold at auction or returned to the lender, you still owe the balance of the loan. The lender can still try to collect.

Have you tried a refinance, short sale, etc.

Thanks for the reply. Have not tried anything yet, house is being rented. I guess my question is still as a retired person who can pay cash for everything, the loss of credit is not an issue, what can they legally do?

Attach other assets you might have, bank accounts, etc.