Understanding the elements of Foreclosure Defense:
Nobody likes being faced with the prospect of losing their hard earned homes. Unfortunately, economic conditions have created a surge in underwater homes and unemployment resulting in a nationwide foreclosure epidemic.
There is little time to act, and you must make some very important decisions along the way that could have an impact lasting for years.
Fernandez Law Group of Tampa analyzes each client's case to develop a custom plan to defend foreclosure proceedings. Our qualified attorneys will work with the lenders to create options for homeowners who are falling behind on their mortgage obligations.
THE MOST IMPORTANT ASPECT OF AVOIDING OR MINIMIZING THE FORECLOSURE PROCESS IS THE DECISION TO ACT.
You have several options when faced with foreclosure, but to make it simple, you need to decide if you want to try and keep the home or look into foreclosure defense alternatives. Generally, when no other alternatives are available, a loan modification could be an option that would be attempted before a short sale. These alternatives could help you move on and get back on your feet faster.
If your choice is to fight the foreclosure and defend your home, we have a full spectrum of defense strategies we've developed specifically for Florida that has proven to be successful and beneficial for our clients.
Generally, the case will take place in circuit court, although there are options available for presenting the case in a Federal District Court in certain circumstances.
HOW DOES THE FORECLOSURE PROCESS BEGIN?
Here in Florida, any time a borrower is in default on their mortgage agreement and also unable to pay the balance of the mortgage loan, lenders have the right to initiate a judicial foreclosure. From beginning to end, the process of completing a foreclosure can take up to five months or more.
When the default occurs, the lender initiates a lawsuit against the borrower in order to regain control of the property.
Typically, the borrower should receive a copy of the lawsuit as well as a notice to appear in court. The borrower is also required to make an appearance at this hearing in order to answer the charges against them. An explanation as to why the mortgage agreement has gone into default will be necessary, and experienced foreclosure defense attorneys can help prepare a more effective response.
Do not skip the court hearing or a judgment may be issued against you which could end up taking away any possible actions for recourse. If this happens, it will be extremely difficult to prevent the foreclosure from commencing on the property.
Regardless of whether or not the borrower appears in court, whatever the court rules must be adhered to under Florida Law.
WHAT ABOUT A NOTICE OF INTENT TO FORECLOSE?
Generally speaking, while prior notice of intent to foreclose is a nice gesture, Florida law states that lenders are not required to notify the borrower of those intentions. Some exceptions apply, such as whether or not the mortgage agreement or deed of trust specify that a notice of intent to foreclose must be given to the borrower. If this is the case, the notice must also be sent to the borrower within a specific period of time before the lender is allowed to proceed with foreclosure. Additionally, certified or registered mail is the required form of service for that notice. And while true in some states, Florida only requires the notice to be sent to the primary borrower listed in the mortgage agreement.
WHEN DO FORECLOSURE PROCEEDINGS BEGIN?
Florida's foreclosure proceedings begin as soon as the lender files a court action and notice of pending lawsuit against the borrower. The entire balance of the mortgage will be required of the lender in order to stop the foreclosure sale. The borrower has up until the day of the foreclosure sale to pay off the balance on the loan, including the amount in default.
If the balance of the loan and default is not paid by the sale date, the courts can issue a foreclosure judgment in favor of the lender and the property will then be sold at a foreclosure sale.
The courts also provide oversight during the process in order to ensure that the sale is properly listed in the foreclosure judgment and that all terms and conditions are adhered to.
WHY SHOULD I CHOOSE FERNANDEZ LAW GROUP FOR MY FORECLOSURE DEFENSE?
The cost of foreclosure defense with our firm is affordable even for homeowners in the worst economic position, and a much more affordable option then being foreclosed upon and leaving the home. This is why we strongly suggest seeking the advice of the Fernandez Law Group. We will assist you in preserving all of the legal options available to you through the judicial process of foreclosure, and fight to keep you in your home.
Each individual case is researched and analyzed to structure defense strategies to place you in a better position to remain in your home and/or enable you to have enough time to mitigate your situation through negotiations of possible Loan Modifications Programs, Short Sale, Bankruptcy, Deed in Lieu, Repayment Plans, and every other option you may not be aware of at this time.
At Fernandez Law Group, we analyze each client's particular case to develop a customized plan to defend the foreclosure proceedings. Our qualified attorneys will work directly with each lender to create options for homeowners who are or have fallen behind on their mortgage obligations.
GET HELP NOW!
Call us today at 813-489-3222 for a FREE consultation.
Additional Foreclosure Defense Information:
Additional information about Loan Modifications:
Additional information on Short Sales:
Content authored by Gaston Fernandez
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