help - being persued for deficiency by Dyke-'oneal
Date: Wed, 05/02/2012 - 15:52
I had to foreclose on a property in Fl - can't do bankruptcy because of LLC interest - deficiency is $283,000. I live in a homesteaded property that is free and clear, my car is almost paid off and I own an old motorhome - 1992 with book value of $12,000 - $30,000. Am trading car in for a new vehicle w/new loan, can "sell" motorhome to a friend for $10,000 . Question: will Dyke-o'neal be interested in this type of vehicle? I have no money in bank accounts, make $60,000. annually and am head of household with 2 small children at home.
Well expect to pay high interest on that new car loan with forec
Well expect to pay high interest on that new car loan with foreclosure.
They will probably end up suing you. If you still reside in FL they wont be able to garnish your wages as head of household but they will lien your home and probably go for a bank levy. Selling the motorhome under book value could also be seen as a fraudulent move, in an attempt to cover potential assets.
Soaplady is right on the mark about the motorhome bit. Its a ver
Soaplady is right on the mark about the motorhome bit. Its a very tricky situation here and you are walking on a tight rope.
