Foreclosure of investment property

Asked about 3 years ago - Orlando, FL

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My primary residence is in FL but I have a 2nd property in CA which I have been trying to sell w/out success for past 3 years. I am current on mortgages but have since become disabled and will be unable to work again therefore am considering foreclosing on CA property. I have excellent credit at the moment. Advice please?

Attorney answers (1)

  1. Licensed in FL

    Pro

    Plantation Estate Planning Attorney
    Contributor Level 17

    Answered March 05, 2010 17:20. Contact your lender's loss mitigation department and tell them that you anticipate being unable to pay the note. Also call 888-995-HOPE to get free mortgage advice. The Florida Attorney General's office promotes that phone line. I have no affiliation with them.

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