	AllExperts > Foreclosure
	Search

About Dennis Herman
Expertise
I can answer questions on Real Estate such as question on writing an Offer to Purchase. What can go wrong after an offer is written? What is Buyer Agency and what will it do for me? What is a foreclosure? What is the difference between a foreclosure, a bank owned property and a short sale? What is the best way to locate a property? What steps can be taken to avoid foreclosure? How do Real Estate Agents get paid? How can I quickly build equity in a home? How do I view homes? What types of homes will have the best prices? How do I choose an agent? What types of financing are available?

Experience
Residential and commercial real estate. New home purchases. Buyer Agency. First time home buyers. Foreclosures, bank owned properties, estate sales and short sales.

Organizations
Greater Milwaukee Realtors Association Wisconsin Realtors Association National Association of Realtors

Publications
http://activerain.com/bloghome

Education/Credentials
State of Wisconsin Licensed Real Estate Sales Agent Accredited Buyer Agency Training Relocation Training Certified Senior Citizen Representative Wisconsin Real Estate Continuing Education

You are here: Experts > Real Estate > Foreclosure > Foreclosure > foreclosure on home

Foreclosure - foreclosure on home

Expert: Dennis Herman - 10/9/2009

Question
I own a home in Florida that has been determined to be non repairable do to construction deficiencies.
It will not have any real worth short of taking the house down and selling the land.
Our only income will be SS.
The current mortgage is at approx 138k.
If I buy another house as my primary can I deed my home in Florida in lieu of foreclosure?
If I just let it be foreclosed can they attach my new primary residence?

Answer
You may already be working with an attorney, due to the circumstances you described. I am not a licensed attorney and I do not know the details of the property.

Why is the house condemned? Have you contacted an attorney to see if you can collect for damages?

After reviewing the details, an attorney would be able to explain how this situation effects your deed. You may also have insurance which may cover a part or all of your loss. Have you contacted your insurance agent to see if they may be of some help?

Add to this Answer Ask a Question