Real Estate Law
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Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.
Here your best option is s deed in lieu where you deed it back to the lender.You contact lender and ask about that.With a deed in lieu the idea is that they forgive the deficiency and in return they get it back without foreclosure.This is the best option given your situation.You can see if the lender will go along and provide you with the deed in lieu form to sign.Otherwise Florida only has judicial foreclosure through the courts.That means they sue and serve you and that a judgment here for the deficiency is entered.This will cloud title if you have other real estate.So again the deed in lieu is better for you.
It will ding your credit but avoiding a deficiency is the best way to go here to resolve all of this.
Reference to deed in lieu
I appreciate the chance to help you tonight.I wish you the best resolving this.Thanks again.