I am scared of my lender to take what i have left! I will be going in foreclosure and the only thing i really

Asked by Luna, Miami Beach, FL Sat May 9, 2009

own is a car that is paid for. The money i make after just being unemployed for 4 month, is not
enough for me to live on. Are lenders going after small timers like me? I have homestead and
only 1 mortgage. I put 65000 down 4 years ago which i am loosing. I got nothing in the bank
left and live from paycheck to paycheck. Everybody on trulia suggests to go to and attorney,
i just don't have the funds to pay and attorney. Should i wait if the lender takes my car and
and wait for some tax bills to come or should i file bankruptcy?
(I tried shortsale for many month, nobody buys, i tried modification and was denied, twice)

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Rodney Forbes, Agent, Palm Beach Gardens, FL
Sat May 9, 2009
I'm sorry for your situation. Many people are in the same boat as you. A law was passed last year to help people in your situation. If the property goes to foreclosure the bank cannot come after you for a judgement. The property itself is security for the loan. (in a few cases where mortgage fraud is involved the lender can sue)
I can recommend a very inexpensive legal service called Pre-Paid Legal. They can discuss your situation and offer legal advice for $35.00.

Call me if you are interested or I can answer any questions.

Rodney Forbes
Forbes Realty of South Florida
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