florida foreclosures
What happens when a house is foreclosed on in Florida?
I had a house in Florida that was in foreclosure and recently auctioned off and sold to a third party for $100,000. less than what I owed on it. Am I responsible for that $100,000.? What happens next?
Is Florida a non recourse state? That is your first assignment. If it is, then the worst you can expect is them to send you a 1099 for the forgiven debt. You would have to add this to your income on your taxes and will have to pay tax on it.
