Comments on: can the bank sue me if my home foreclosed for the money? http://www.movingjacksonville.com/florida-short-sale/can-the-bank-sue-me-if-my-home-foreclosed-for-the-money MOVING JACKSONVILLE Real Estate, blogs and Jacksonville Homes For Sale. SHORT SALE or PRE-FORECLOSURE CALL NOW!. We have many Jacksonville Homes For Sale, specializing in Jacksonville, Atlantic Beach, Jacksonville Beach, Ponte Vedra, Orange Park, Fruit Cove. Searching to sell or buy Jacksonville Florida Real Estate. Fri, 03 Feb 2012 10:22:05 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: wandalee » Blog Archive » Quick Roundup http://www.movingjacksonville.com/florida-short-sale/can-the-bank-sue-me-if-my-home-foreclosed-for-the-money/comment-page-1#comment-3446 wandalee » Blog Archive » Quick Roundup Sat, 29 May 2010 19:42:34 +0000 #comment-3446 [...] http://www.movingjacksonville.com/florida-short-sale/can-the-bank-sue-me-if-my-home-foreclosed-for-t...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. … JACKSONVILLE Real Estate, blogs and Jacksonville Homes For Sale. SHORT SALE or PRE-FORECLOSURE CALL NOW!. We have many Jacksonville Homes For Sale, specializing in Jacksonville, Atlantic Beach, Jacksonville Beach, Ponte Vedra, Orange Park, Fruit Cove. Searching to sell or buy Jacksonville Florida Real Estate. … [...] [...] http://www.movingjacksonville.com/florida-short-sale/can-the-bank-sue-me-if-my-home-foreclosed-for-t…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. … JACKSONVILLE Real Estate, blogs and Jacksonville Homes For Sale. SHORT SALE or PRE-FORECLOSURE CALL NOW!. We have many Jacksonville Homes For Sale, specializing in Jacksonville, Atlantic Beach, Jacksonville Beach, Ponte Vedra, Orange Park, Fruit Cove. Searching to sell or buy Jacksonville Florida Real Estate. … [...]

]]> By: peppergreenwell http://www.movingjacksonville.com/florida-short-sale/can-the-bank-sue-me-if-my-home-foreclosed-for-the-money/comment-page-1#comment-3445 peppergreenwell Sat, 29 May 2010 15:48:52 +0000 #comment-3445 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 !!! 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 !!!

]]> By: goz1111 http://www.movingjacksonville.com/florida-short-sale/can-the-bank-sue-me-if-my-home-foreclosed-for-the-money/comment-page-1#comment-3444 goz1111 Sat, 29 May 2010 15:32:05 +0000 #comment-3444 I would have to agree with that type of negative equity a short sale maybe out of the picture that is truly amazing that in 2007 a lender would loan 1.4 million on a property that has an fmv of 325K in 2009 Your main problem lies in the fact a home equity loan is recourse, meaning if the place is foreclosed upon the home equity lender will try and recover 480K from you, so if you have assets like a home which is paid off, checking account, stocks these are all subject to seizure What was the 480K spent on? Do you have legal recourse against the person who spent the monies? I would have to agree with that type of negative equity a short sale maybe out of the picture that is truly amazing that in 2007 a lender would loan 1.4 million on a property that has an fmv of 325K in 2009

Your main problem lies in the fact a home equity loan is recourse, meaning if the place is foreclosed upon the home equity lender will try and recover 480K from you, so if you have assets like a home which is paid off, checking account, stocks these are all subject to seizure

What was the 480K spent on? Do you have legal recourse against the person who spent the monies?

]]> By: Dazy http://www.movingjacksonville.com/florida-short-sale/can-the-bank-sue-me-if-my-home-foreclosed-for-the-money/comment-page-1#comment-3443 Dazy Sat, 29 May 2010 15:00:59 +0000 #comment-3443 your talking about a lot of money what a legal mess and yeah they can sue you. If total amount owed is that much a short sale won't do you any good. That's crazy what happened to the money from the home equity loan. When I seen something like this happen it court a few years ago the couple filed a chapter 13 to repay it back. your talking about a lot of money what a legal mess and yeah they can sue you.
If total amount owed is that much a short sale won’t do you any good. That’s crazy what happened to the money from the home equity loan.
When I seen something like this happen it court a few years ago the couple filed a chapter 13 to repay it back.

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