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The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property (immovable property) after the owner has failed to comply with an agreement between the lender and borrower called a “mortgage” or “deed of trust”. Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property.
As with all other legal actions, all parties must be notified of the foreclosure. A judicial decision is announced after pleadings at a (usually short) hearing in a county or circuit court. Call 888-886-0020 to speak with a South Florida Foreclosure Defense Attorney or send an e-mail to email@example.com with your questions about preventing or postponing your Florida Foreclosure.
A dispute over paragraph 22 of the mortgage may force banks to make stronger arguments to prove notices of defaults entered.[/caption]
In Florida, the foreclosure process begins when the bank’s attorney files a “foreclosure complaint” against you, the borrower in default. “Foreclosure Papers,” usually refers to the foreclosure complaint. The foreclosure complaint sets forth the bank’s claim for relief of foreclosure and must include the borrower and/or owner of the property as well as all other parties having junior liens on the real property (2nd Mortgage or “Home Equity” lien holders, HOAs, construction liens, etc.). After the Complaint is filed, a Lis Pendens is recorded against the property. The Lis Pendens serves as constructive notice to the world that a foreclosure has been filed and that any interest acquired after the date of recording is expressly subject to the foreclosure action.
Any named defendant must answer the foreclosure complaint within 20 days of the date of service. If you do not respond within the 20-day window, the court may enter a default judgment and set an auction date soon thereafter. Contact a Florida foreclosure defense attorney as soon as possible if you have been served with a foreclosure complaint. If you are beyond the 20-day window to file an answer, a Florida foreclosure attorney may still be able to enable you to defend your foreclosure. Call 888-886-0020 to speak with a South Florida Foreclosure Defense Attorney or send an e-mail to firstname.lastname@example.org with your questions about preventing or postponing your Florida Foreclosure.
Florida and Federal laws provide procedural and equitable defenses to prevent or postpone foreclosure. It is important to understand that none of these strategies alone is likely to save a home. While it is natural for attorneys to resort to litigation in response to a threatened foreclosure, rarely will litigation fully resolve the borrower’s problem. Some defenses may reduce the amount owed or may cause a delay in the foreclosure process long enough to allow the borrower and his/her family to find appropriate housing.
Sometimes filing a bankruptcy petition is the easiest way to stop an imminent foreclosure and allow the home owner time to initiate these claims. Substantive and procedural defenses are not waived when a homeowner files for bankruptcy. Call 888-886-0020 to speak with a South Florida Foreclosure Defense Attorney or send an e-mail to email@example.com with your questions about preventing or postponing your Florida Foreclosure.
“Walking Away” and “Stategic Default” are terms used to describe the situation in which a borrower decides that continuing payment on the mortgage loan simply does not make economic sense because of the depreciation in the value of the collateral (the price of the house). This is a complicated question to which the answer is different from case to case.
A borrower facing the loss of his or her home through foreclosure or execution on a judgment may be able to secure temporary or permanent relief in the bankruptcy court. One of the most important weapons in the consumer bankruptcy arsenal is the automatic stay provision of the Bankruptcy Code. Few other legal steps that may be taken by a consumer can effectuate relief so simply, so effectively, and so dramatically. The instant that a bankruptcy case is filed, the automatic stay takes effect, freezing almost all actions against the debtor and the debtor’s property, including a foreclosure or sale of secured property.
In addition, certain liens may be “stripped down” or reduced in a Chapter 13 Bankruptcy, thus lowering your monthly payments and potentially allowing you to afford stay in the house. Call my office at 888-886-0020 or send an e-mail to firstname.lastname@example.org to schedule an appointment in which we can discuss your situation and figure out which options will work best for you.
See Florida Statutes Section 501.1377. This means that if the company is offering you any type of foreclosure assistance, they cannot collect any fees up front unless the company is a licensed law firm. Call 888-886-0020 to speak with a South Florida Foreclosure Defense Attorney or send an e-mail to email@example.com with your questions about avoiding Foreclosure scams in Florida.
A skilled and knowledgeable attorney will be able to raise defenses and counterclaims that may help keep you in your home for months longer than you otherwise would. These months can help you save enough money to start over and relocate after the foreclosure process has completed. My office helps South Floridians just like you living in and near Miami, Ft. Lauderdale, and West Palm Beach. Call my office at 888-886-0020 or send an e-mail to firstname.lastname@example.org to schedule a free consultation in which we can discuss your situation and figure out which options will work best for you.
Please contact our Florida Foreclosure Defense Attorney for a free consultation to determine if Foreclosure Defense is right for you and for your Fee Structure. Since each case is unique it’s difficult to quote a fee without knowing your specific case details and circumstances.
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