Asset protection

[avalon]

Any advice/ suggestions out there on asset protection in a foreclosure (or short sale) situation? Could really use some guidance.

 

[Smiling JOe]

Sounds like you could use the services of an attorney.

 

[Matt J]

I'm not trying to be funny, but it sounds like the asset is already taking a beating if it's in foreclosure/short sale.

 

[Babyblue]

Any advice/ suggestions out there on asset protection in a foreclosure (or short sale) situation? Could really use some guidance.

What are you trying to protect?

 

[jk]

Any advice/ suggestions out there on asset protection in a foreclosure (or short sale) situation? Could really use some guidance.

Our firm in Mirmar Beach may be able to help. You can contact me at Arnett & Kerrigan 850-502-4373. Please ask to speak to Jane or Daniel. Thanks

 

[30ashopper]

What are you trying to protect?

Typical case would be someone who owns a piece of property and has other assets, another home, saving, investment, etc.. If the bank forecloses on the property, can they also land a judgement from the court giving them the right to come after other assets.

Don't quote me on this, but most assets can be at risk, except homesteaded property in florida. Everything comes into play, loan type, loan loss, loan agreement, what state assets are in, etc..

Get the guidance of a lawyer.

Here's a legal web site with some basics:

Deficiency Judgements:
mortgage foreclosure deficiency judgements

What's protected in Florda:
florida asset protection, wages, annuity, Florida statute
florida homestead protection

There's more if you click on the menus to the left.

 

[Bobby J]

Any advice/ suggestions out there on asset protection in a foreclosure (or short sale) situation? Could really use some guidance.

Susan Vonhene at 598-7070.

 

[SHELLY]

I would think it difficult to push through a short sale if one has substantial assets available...unless of course the person is willing to part with a portion of said assets to satisfy a portion of the mortgage forgiven--no?

.

 

[avalon]

Thanks!

I appreciate the tips and phone numbers. Never in my wildest dreams did I foresee such a complicated mess! The irony is that if I could sell the property at a decent price, the house would be safe. I have made an appointment with a lawyer-- we will see what happens.

 

[Bobby J]

I would think it difficult to push through a short sale if one has substantial assets available...unless of course the person is willing to part with a portion of said assets to satisfy a portion of the mortgage forgiven--no?

.

Difficult, yes. Impossible, no.