FAQ: Real Estate
The team at Jupiter Legal Advocates has put together this real estate faq list that may help answer questions you have about real estate issues you may be facing or considering.
If you don’t see your question answered here – please email us at info@jla.legal so we can help you.
Real Estate FAQ
Negotiating a Deed in Lieu of Foreclosure in Florida
When negotiating a Deed in Lieu of Foreclosure in Florida be sure to have the lender agree to waive or release you from any deficiency in the difference between the mortgage amount owed and the ultimate market value of the property.
Deed in Lieu Waiver of Deficiency
When negotiating a Deed in Lieu of Foreclosure in Florida be sure to have the lender agree to waive or release you from any deficiency in the difference between the mortgage amount owed and the ultimate market value of the property.
This will prevent the lender from suing you in the future for that deficiency.
What to Look for when Negotiating a Deed in Lieu
A Deed in Lieu of Foreclosure will provide you no benefit unless you receive a waiver or release of the deficiency. Be skeptical of lenders or real estate agents asking you to sign a promissory note for a certain balance. The lender can try to collect the balance of the note from you in the future.