Contact your attorney and accountant immediately.
Dear Monkey,
My understanding of it is, the lender can sue for damages. I would advise you to consult a foreclosure attorney as I am not qualified to give you legal advice.
I have some foreclosure attorneys whom I can reccommend if you want to give me a call. They are very reasonable and the consultation appointmnet is free.
My best,
Terri
Teresa M. Fellows
Broker/Associate
Waterside Realty LLC
941-350-4297
tmf4257@mac.com
http://www.floridawestproperties.com
You should be talking with an attorney who specializes in this sort of thing. Getting lay opinions won't do you any good. If you'd like a recommendation, email me at Bob@BobBronston.com and I can give you the contact info of someone I and my office use.
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