Florida Foreclosure Defense Attorneys

About Foreclosure

Foreclosure is most simply defined as the legal action taken by a creditor (mortgage lender or bank) to repossess the collateral (house or other real property) for a loan that is currently in default. To default on a mortgage loan, the borrower must have failed to meet the terms of his or her mortgage agreement – such as failing to pay the mortgage for a certain period of time. The exact time at which a borrower may be considered to be in default and that the mortgage lender will begin foreclosure proceedings will depend upon the particular agreement.

Causes for Foreclosure

A homeowner may face foreclosure because of any one of a number of reasons, and they all result in nonpayment of the loan. Some reasons may include:

• Being laid off or fired from one’s job
• Accumulating excessive debt and bills
• A mortgage payment that rises excessively and unexpectedly
• Inability to work because of medical reasons

At times, a borrower may go into default on his or her home loan because of predatory lending or a scam of sorts that caused them to purchase a home that they actually could not afford in the first place.

The Foreclosure Process in Florida

In Florida, the foreclosure process will last approximately 2 to 3 months or longer if you choose to fight to keep your home or sell it yourself. The process may go much as follows:

• The borrower goes into default on his or her loan
• The lender gives the borrower a notice of default
• If the mortgage is still unpaid or not brought up to date, the lender will file a lawsuit at the county courthouse
• You will be informed of the lawsuit, or “served”
• You will have 20 days to answer the lawsuit
• If you answer with the court within 20 days, a hearing will be held in front of a judge
• The judge will make a ruling either in favor of you or the lender
• If the ruling is in favor of the lender, a foreclosure sale date will be set
• The property will then be sold by the lender, ending the foreclosure process and terminating your right to the property

You Need a Foreclosure Lawyer

Your lender will have a lawyer to represent their interests in a foreclosure case. Shouldn’t you have the right to a lawyer as well?

There will be no one to look out for your interests and safeguard your future if you do not work with an attorney after you have been served a notice of foreclosure. Remember, you have only 20 days to file your answer with the court, and you may lose your right to fight foreclosure if you do not do this. You can save your home, with the help of a skilled lawyer.

Contact a Florida foreclosure attorney at Carman Law Firm, PA today!