Foreclosures Help Information

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Foreclosed Florida Homes For Sale

Question: can the bank sue me if my home foreclosed for the money?

In 2007, I was tricked into a Heloc Home Equity loan for 480K based on my great credit on a house I've never seen in Georgia. I live in florida. I later found out that I was not on the primary loan, yet was the sole person on the Heloc. The total amount owed is 1.4 mil, but now worth not even 350K. Do you think a short sale would be a solution? Or just let it foreclose? and if it foreclose, can the bank sue me?

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Answer: O-YES !!! go into short sale , make sure you are with a Realtor that does short sales ... Bush passed a bill 01/02/2008 no recourse on primary homes but what u have described is an investment home ...Really would be good for u to see a Real Estate Attorney .... For the short sale to go quicker u need to send in financials including w/2, bank statements, AND a hardship letter,[needs to be strong] ... This will show them u can not afford the house ... Your Realtor will have u sign a letter to be able to communicate with them and that is all u do the Realtor will do the rest ....
Your credit will not be as hurt as bad if u do a short sale rather then a full blown foreclosure ...... but really lets see an attorney first, A Real Estate attorney .... good luck !!!

(Luxury Tampa Bay) (Florida Homes For Sale) (Real Estate)

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Free Foreclosed Homes In Florida

Question: anybody know where to look online for foreclose homes in florida for free?

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Answer: call a local realtor (free for you to use as a buyer) they have all the lists including the updated properties you won't see online NEVER buy a foreclosure without a realtor - too many complications (I've seen em all) LOL

Free List of Foreclosures in Florida - StartHouseHunting.com

Florida Foreclosed Homes For Sale

Question: Should I sign a foreclosure deficiency agreement in Florida?

I'm trying to do a short sale on my primary home in Florida. The value has fallen by over 50% and I'm 12 months behind on payments. The 1st lender is ok with the short sale, but the second lender won't receive anything and is requesting that I sign an agreement for a deficiency notice. They also gave me the option of signing something assuming the tax liability for their loss.

Should I sign either of these, or is it better to let the property foreclose?

If I do sign one, what is the consequence and possible recourse?

Thanks, for your help!

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Answer: WHOA, without seeing docs, not sure what they're asking, but sounds like they want you to affirm the loan and once security (home) is gone, they want personal liability. Or that they will give you 1099C, which means you will have income on which to pay tax next year.
Seek legal advice before signing any of these things or letting it go in foreclosure. Initial consultation cheap or free.

Homes for sale under $50,000 in South West Florida Lehigh Acres Will Suprise You