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