From 2008 to 2011, Florida experienced a Housing Crisis. While it has recovered, Foreclosures are now on the rise. As a result, more Homeowners are losing their homes. Despite this trend, they still have a chance to keep their property. While the process is stressful, it is important to hire a Lawyer that fights for you. Therefore, contact your Parkland Foreclosure Defense Lawyers.
HOW YOUR PARKLAND FORECLOSURE DEFENSE LAWYER CAN HELP
- Bank Defense. It is important to hire a Foreclosure Defense Lawyer when you are served. As a result, you will be able to argue your Defenses from the beginning. For example, if there are issues of Standing or Compliance with Demand Letters, the Attorney can argue them in the response.
- Association Defense. This take less time. This is because their are less defenses. However, most cases are resolved once they are served.
- Loan Modification. Since 2008, more modifications have been offered. As a result, more Homeowners have kept their property. However, the process can take over 6 months. Therefore, they should apply when they are served.
- Short Sale. This can take a year to complete. However, if handled efficiently, the process can take less time.
- Deed in Lieu. This occurs when the Homeowner transfers their title to the lender. If they agree to the transfer, they will release them from the mortgage.
STAGES OF THE FORECLOSURE PROCESS
- Default Letter. A Homeowner receives a Letter from the Bank when they fail to pay their mortgage. They are given 30 days to pay. If they do not, the Bank will proceed with Foreclosure.
- Complaint The Bank serves the Homeowner because they are not paying their mortgage. As a result, they have 20 days to respond. This consists of Defenses including Standing, Failure to Comply with Conditions Precedent, and Inaccurate Accounting. In addition, they can serve the Bank with discovery. This allows the Homeowner to strengthen their case.
- Summary Judgment Hearing and/or Non-Jury Trial. Like any case, the Judge makes the Final decision. In a Foreclosure, they render their decision at the Hearing and/or Non-Jury Trial. If they rule for the Bank, a Sale date will be set.
- Foreclosure Sale. This occurs 35 days after a Judgment. At the Sale, individuals can submit bids to purchase the Property. As a result, the Highest Bidder becomes the new owner. However, the Homeowner has 10 days to file an objection. This is known as an Objection to Sale.
If you have questions about the Foreclosure Process, contact your Parkland Florida Foreclosure Defense Lawyers at (954) 990-7552