Real Estate Investor · santa monica, CA · Member since 2010 · 2 posts · 0 votes
I invested in the Florida market right at the top and now need to short sell several properties. Additionally I have been hit with deficiency judgements on the two properties that went back to the bank, both for overinflated values. Is anyone in a similar situation? My loss will be someone elses gain, because these brand new construction homes will go to someone for cheap. The banks are going as low as 30 cents on the dollar on one of my homes. Any interest? Any info on how to fight overinflated deficiency judgements?
Get an appraisal for the day the foreclosure sale happened. There is some specific case law in Fl. If they firesold due to them needing the cash, you can fight that.
I would seek an attorney who can handle such things.
I think alot of people who purchased properties a few years ago are wishing they didnt. But dont feel bad I bought ford stock when it was $44.
Learn to live with losses and your gains will be more than you ever wanted!!!