FORECLOSURE OVERVIEW

Law You Can Understand

Foreclosure
Overview

Florida is a lien theory state which means that your property acts as security for the underlying loan. The document that places the lien on the property is known as your mortgage.  A mortgage is filed as evidence of the debt and terms of repayment, which is set forth in the note.

 

If you stop making payments on your mortgage and fall seriously behind  you could face the risk of foreclosure. Depending on the court schedule,  it usually takes approximately 180-200 days to effectuate an  uncontested foreclosure. However, this process may be delayed if the  borrower contests the action, seeks delays and adjournments of hearings,  or files for bankruptcy.

 

Filing for bankruptcy may stop home foreclosure and help you keep most of you property.

Are you
considering
Foreclosure?

In Florida, the lenders go to court in what is known as a judicial  foreclosure proceeding where the court must issue a final judgment of  foreclosure. The property is then sold as part of a publicly noticed  sale or auction. If you are behind on your mortgage payments and at risk for foreclosure,  seek help now. Do not wait. It is best to contact an attorney who can  examine your finances, look at your individual situation, and assess  your needs to help you determine a plan that is best for you and your  family.

 

Facing foreclosure is one of the toughest times in a person’s life as  you could be left without a house to live in. If you are already facing  foreclosure threat, or if you have already received a foreclosure  notice, your situation is dire, but not hopeless. If you are behind on  your mortgage payments and at risk for foreclosure, seek help now. Do  not wait. It is best to contact an attorney who can examine your  finances, look at your individual situation, and assess your needs to  help you determine a plan that is best for you and your family.

There are methods and strategies to help you and you can avoid foreclosure.

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