Received a deficiency judgement on foreclosure in miami. What do I do now?

Follow this link to learn some Florida law concerning debtors' rights and what you can expect the lender to do to execute its judgment.

http://www.floridabar.org/tfb/TFBConsum.nsf/0a92a6dc28e76ae58525700a005d0d53/f1bc20015cfdb2e985257408005290ed?OpenDocument

And remember that everything is negotiable. If your debts, including this judgment, seem insurmountable, then maybe it's time to contact a bankruptcy attorney.

Now you have a probelm. The best way to defend a gainst a deficiency judgment is to raise an effective defense in the foreclosure action, which can often be exchanged for a waiver of the deficiency judgment claim. Most people in Florida have n.oo clue that once the foreclosure is over, the worst is yet to come if the property is upside down, because the next step if the action to obtain a deficiency judgment, and then seizure of assets, garnishment of wages, which can continue for a very long time..

If yoou qualify for Chapter 7 Bankruptcy, that is definitely our best way out. You can also try speaking to a debt collection .fdefense attorney about what can be done.

You can find attorneys who specialize in both areas of law on the web site of the National Association of Consumer Advocates, www.naca.net

You should consult with an experienced Bankruptcy Attorney in your area to ensure your rights are protected. Another option besides bankruptcy is to work with your lender to see if you can work out an agreement as to the deficiency.

This answer is provided for informational purposes only and does not create an attorney-client relationship. A more detailed explanation can be provided if you contact our offices directly.
Our firm specializes in Foreclosure Defense and Landlord / Tenant Law. Please visit our websites for more information. http://www.foreclosureandlitigation.com and http://www.webevictions.com