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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Disagree with Al's premise. Posted by Jinger on April 24, 2008 at 12:39 AM In Reply to: Re: lot of trouble posted by Al on April 24, 2008 at 11:55 AM : As you said - you made mistake. Stop paying right now, after 60 days missing payments let the bank take it. You will have FK on your record, but who cares?? : You will owe nothing to anybody, as our goverment gives you forgiven debt tax free. In effect you had a housing option which failed. That was an investment for you, and it did not work out. Investments sometimes do not work out. Espetially with a lot of leverage. Since it's assumed the lot (and the developer) are in Florida, isn't his Kevin's mortgage subject to the laws of Florida? The quick link on the side of this site under 50 State Foreclosure Basics says that Florida is a mortgage state (5 months to do a Judicial Foreclosure) AND THAT THERE IS DEFICIENCY ALLOWED Follow Ups: Re: Disagree with Al's premise. Dru 10:48 AM, 04/25/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : As you said - you made mistake. Stop paying right now, after 60 days missing payments let the bank take it. You will have FK on your record, but who cares?? : : You will owe nothing to anybody, as our goverment gives you forgiven debt tax free. In effect you had a housing option which failed. That was an investment for you, and it did not work out. Investments sometimes do not work out. Espetially with a lot of leverage. : : Since it's assumed the lot (and the developer) are in Florida, isn't his Kevin's mortgage subject to the laws of Florida? : The quick link on the side of this site under 50 State Foreclosure Basics says that Florida is a mortgage state (5 months to do a Judicial Foreclosure) AND THAT THERE IS DEFICIENCY ALLOWED [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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