Foreclosure in 33511>Question Details

ncmimi, Home Owner in Naples, FL

Can I purchase a home paying cash from my retirement fund in Georgia, if I have a foreclosed home in Florida?

Asked by ncmimi, Naples, FL Tue Mar 19, 2013

We are unable to pay off our home in Florida with what is left of our retirement. We have just enough to purchase a home in Georgia.

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BEST ANSWER
If you're asking if a lender that foreclosed on your property in Florida can get a judgment against you and try to collect... you need to talk with an attorney in Georgia. We have homestead laws in Florida that would protect an owners' Homestead under certain requirements, here's an asset protection lawyer in Florida:

http://www.AlperLaw.com

All the best,
Alma Kee
http://www.SoldOnTampa.com
0 votes Thank Flag Link Tue Mar 19, 2013
It sounds like you still own the property in Florida at this time. If you want to make sure that you do not have a judgement action follow you or your credit, you may want to consider a short sale or deed in lieu with your lender. Make sure they do not have the option to pursue you at a later date on the paper work you sign. Make sure you have an attorney review all paperwork to protect you and any future assets.
0 votes Thank Flag Link Tue Mar 19, 2013
In a cash transaction no lending institution is in the middle. You are free to have a transaction between buyers and sellers. Is a private transaction. I hope this helps and good luck with your home search. Make sure that you have the funds available and ready before you move forward with your home buying process. Best of luck.
Regards,
Gerardo Luna
813-410-1712
0 votes Thank Flag Link Tue Mar 19, 2013
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