QUESTION

My condo board is enforcing a pet policy, I cannot comply.I have a mortgage as well as a home equity loan on a condo (primary residence) in Florida.

Asked on Aug 27th, 2012 on Real Estate - Florida
More details to this question:
I am 9.5 years into 30 year mortgage. I will not give up my pet and really would like to leave, but the market isn't good, between the two loans I'm underwater and am thinking of just walking away or arranging either a foreclosure or deed in lieu with primary lender. What is best option? Also, what home equity loan with different lender? Do I handle the two lenders separately? What are options and tax ramificaitons, credit score issues?
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1 ANSWER

It sounds like you really need to have a combination of a financial planner and lawyer look at your situation to see if it is possible for you to get some relief and/or a mortgage modification. That to me is the more important issue. As for the pet policy, normally a board cannot force new policies against grandfathered situations so it is possible that your existing pet would not be subject to that policy. More importantly, if you feel strongly about that, you should either gather support to fight a pet policy or to drafted in such a way that it is acceptable to you and other owners.   This is specific to Florida law and does not constitute legal advice as the facts presented are anonymous and incomplete. This is intended for general education only and does not create an attorney-client relationship. This should not be relied on and you must seek your own attorney client relationship.
Answered on Aug 27th, 2012 at 10:21 AM

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