Florida,
We recently sold an investment property on a short sale. The 1st was paid off but the 2nd had a rather large balance. The leinholder signed off so the sale could go through but now is wanting payment. They are threatening to sue us.
We have already used all of our savings just to keep current in hopes the property would sell at a reasonable price. Not to be.
Since the sale, we have both lost our jobs. I have PT employment and my wife started her social security benefits. We are both senior citizens.
We still own a primary residence, have some IRA accounts for retirement, life insurance (with no cash value) and a 2nd home in another state with a mortgage and very little equity, two 6 year old autos and not much else of value.
If they win the lawsuit, what can they legally attach or take from us?
What is the name of your state (only U.S. law)?
02-13-2009, 01:33 PM
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