Loans, Debt & Credit - View Single Post - Help - option to walk away from an investment property

rxmama · 05-20-2009, 09:47 AM

Met with them yesturday to discuss our options- very enlightening. We discussed specifically the loss of our primary home vs the loss of an investment property. As expected, the loss of the investment property hurts you financially much harder than that of your primary residence regarding deficiency, taxes, etc. Typical FC is taking approx 12-18 months in Florida assuming you use an attorney to contest the bank and prolong the process as long as possible.

05-20-2009, 09:47 AM	#11 (permalink)
rxmama Member Join Date: Dec 2008 Posts: 15 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Help - option to walk away from an investment property Met with them yesturday to discuss our options- very enlightening. We discussed specifically the loss of our primary home vs the loss of an investment property. As expected, the loss of the investment property hurts you financially much harder than that of your primary residence regarding deficiency, taxes, etc. Typical FC is taking approx 12-18 months in Florida assuming you use an attorney to contest the bank and prolong the process as long as possible.