Foreclosure risk:lawsuits from lenders
by BloggerInParadise on Jun.06, 2010, under Real Estate Discussion
FORT LAUDERDALE, Fla. – June 3, 2010 – Before Larry Thomas unloaded his Pompano Beach, Fla., home last fall for a fraction of what he paid, he cut a deal that will keep him from worrying about a huge debt hanging over his head.
Thomas insisted that his lender, American Home Mortgage Servicing, agree not to come after him for the estimated $174,000 he still owed on his two mortgages. “I feel incredible relief,” the 32-year-old restaurant manager said last week.
Others may not be as fortunate.
Check out the complete article at SwFlRealEstateNews.com or here.
June 8th, 2010 on 8:45 am
When thinking about either allowing a foreclosure to happen or thinking about doing a short sale, consult not only your Realtor, talk to an attorney, too. You need to know the ramifications of your decision.
June 8th, 2010 on 11:43 am
Everyone thinks that you can just walk away with no repercussions. Not so. You need to be careful and cover your bases.