From 2008 to 2011, Florida experienced a Housing Crisis. While it has recovered, Foreclosures are on the rise. As a result, more Homeowners are losing their homes. However, despite the increase, Homeowners still have a chance of keeping their properties due to Bank Programs. 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. A Foreclosure has several stages. However, a Homeowner should be represented from the beginning. If you have been served with a Foreclosure, speak with a Foreclosure Defense Lawyer.
- Association Foreclosure Defense. Association Foreclosures take less time. This is due to the fact that there are less defenses. While a Homeowner does not have the same protections, they still have defenses. This includes an Association’s failure to follow Florida Statute Chapter 718 and 720 as well as Stat
- Loan Modification. Since 2008, more modifications have been offered. As a result, more Homeowners have kept their property. Therefore, to increase your chances of qualifying, contact a Foreclosure Defense Lawyer.
- Short Sale. The Short Process can take over a year to complete. Therefore, it is better to start the process in the beginning stages. A Short sale requires an offer that is less than the amount owed to the Bank. If the Bank approves the offer, the Homeowner is released from liability.
- Deed in Lieu. If a Homeowner does not qualify for a Loan Modification, their next option is a Deed in Lieu of Foreclosure. A Bank must approve the Deed in Lieu of Foreclosure. If the Bank issues an approval, the Homeowner can transfer thier interest to the Bank. In return, the Bank releases the Homeowner from liability.
STAGES OF THE FLORIDA FORECLOSURE PROCESS
- Default Letter. A Homeowner receives a Default Letter from the Bank when they fail to pay their mortgage. The letter requires the Homeowner to pay within 30 days or the Bank will proceed with Foreclosure.
- Foreclosure Complaint The Bank serves the Homeowner a Foreclosure because they are not paying their mortgage. As a result, the Homeowner has 20 days to respond. The response consists of Defenses including Standing, Failure to Comply with Conditions Precedent, and Inaccurate Accounting.
- Summary Judgment Hearing and/or Non-Jury Trial. Like any case, there is a Final decision by the Judge. In the Florida Foreclosure Process, a Judge renders their decision at the Summary Judgment Hearing and/or Non-Jury Trial. If the Judge rules for the Bank, a Foreclosure Sale date will be set.
- Foreclosure Sale. The Foreclosure Sale occurs 35 days after a Final Judgment. Individuals have the opportunity to submit bids to purchase the Property. As a result, the highest Bidder becomes the new owner. However, there is a 10 day period that the prior Homeowner can file an objection to the Foreclosure Sale.. This is known as an Objection to Sale.
Given the points explained above, a Foreclosure Defense lawyer is clearly beneficial. Therefore, if you are in Foreclosure, contact your Parkland Foreclosure Defense Lawyers.