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 A FORECLOSURE DEFENSE LAWYER CAN HELP
- Bank Foreclosure 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 Foreclosure Defense. Association Foreclosures take less time. This is because the Homeowner has 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, it can take over 6 months. Therefore, Homeowners should apply when they are served.
- Short Sale. The Short Sale Process can take a year to complete. However, if handled efficiently, the process can take less time.
- Deed in Lieu. If a Homeowner does not qualify for a Loan Modification or a Short Sale, their next option is a Deed in Lieu of Foreclosure. In this process, they agree to transfer their interest to the Bank. If the Bank allows the transfer, the Foreclosure will be dismissed.
STAGES OF THE FORECLOSURE PROCESS
- Default Letter. A Homeowner receives a Default Letter from the Bank when they fail to pay their mortgage. The Default letter allows them 30 days to pay their mortgage. If they do not pay, the Bank will proceed with Foreclosure.
- Foreclosure Complaint The Bank serves the Homeowner because they are not paying their mortgage. As a result, they have 20 days to respond. The response consists of Defenses including Standing, Failure to Comply with Conditions Precedent, and Inaccurate Accounting. In addition, the Homeowner can serve the Bank with discovery. These are necessary to strengthen their case.
- Summary Judgment Hearing and/or Non-Jury Trial. Like any case, the Judge makes the Final decision. In a Foreclosure, a Judge renders their decision at the Summary Judgment Hearing and/or Non-Jury Trial. If they rule for the Bank, a Sale date will be set.
- Foreclosure Sale. A Foreclosure Sale occurs 35 days after a Final 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 to the Sale. This is known as an Objection to Sale.