Receiving a mortgage foreclosure notice is a stressful and overwhelming experience for a homeowner. However, you still have options even if you receive a foreclosure notification. Our Florida foreclosure defense, debt defense, and bankruptcy attorneys can tailor a unique solution to address your circumstances. Contact us today for a free consultation to learn more about how we can help you.
Foreclosure Basics
When a homeowner can no longer maintain their regular loan payments, their mortgage company may initiate foreclosure by filing a foreclosure lawsuit. This legal action aims to force the sale of the home so that the lenders can recoup the money the homeowner owes them. Our experienced Florida foreclosure defense attorneys can help mitigate the consequences of the foreclosure process.
What to Do if Notified About a Foreclosure
If you receive a foreclosure notification, the two biggest mistakes you can make are to either ignore it or to try to take on your case alone. The most crucial step to take if you receive a complaint and summons for a foreclosure lawsuit is to contact foreclosure attorneys in Florida who can optimize your chances of a favorable outcome of your case.
How Can Our Foreclosure Defense Lawyers Help You Fight Foreclosure?
If you are in the midst of a foreclosure lawsuit or simply worried that the bank might soon serve you with a foreclosure notice, an experienced Florida foreclosure defense attorney is crucial. Your attorney can help you understand your options and fight to avoid foreclosure. Our team at Loan Lawyers will take care of all the legal heavy lifting and keep you updated throughout the process. Based on your situation, we might be able to take immediate steps to halt or delay the foreclosure process.
How Long Does a Foreclosure Take in Florida?
The length of time foreclosure proceedings take depends on several factors. The process can take as little as six months or as long as a year, and potentially longer. This protracted timescale gives Florida homeowners with excellent legal counsel a chance to organize their finances, cure their mortgage default, or negotiate alternative resolutions with their banks.
How Can You Stop a Foreclosure Without Going to Trial?
Even after a foreclosure lawsuit has been filed, there are still options to resolve the matter without going to trial. Some common defenses foreclosure lawyers in Florida can use before trial include:
- Bankruptcy – Filing for Chapter 7 or Chapter 13 bankruptcy will automatically halt any foreclosure proceedings. The bankruptcy court can eliminate your mortgage debt or create a repayment plan to become current on your mortgage.
- Refinancing – If you qualify for a new loan with lower payments, you could pay off your defaulted mortgage and refinance into a more affordable option.
- Forbearance Agreement – Your lender may agree to temporarily pause or reduce your mortgage payments for a set time until you can get back on your feet financially.
- Loan Modification – You may be able to modify your loan terms to lower your monthly payments permanently. This process may involve extending the repayment period, reducing the interest rate, or adding missed payments to the end of the loan.
- Short Sale – The lender may allow you to sell the home yourself and release their lien even if the sale price is lower than what you owe on the mortgage.
- Deed in Lieu of Foreclosure – You voluntarily transfer ownership of the property back to the lender to satisfy the debt and avoid foreclosure.
