Walking away from Florida mortgage doesn’t always clear debt
You think banks are powerless to retaliate if you walk away from your Florida mortgage?
Think again.
Despite dozens of Web sites touting Florida as a prime “walk away” state — mail in the house keys and live debt free — foreclosed homeowners have learned that banks aren’t always keen to forgive such debt.
It’s true that many Florida mortgage lenders customarily waive mortgage deficiencies — the shortfall between the loan amount and the home’s market value after it’s repossessed.