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Florida Foreclosure Law
In the State of Florida, you have twenty (20) days to respond to a pre-foreclosure complaint. It is critical that you meet with a knowledgeable foreclosure defense lawyer to discuss the legal options available to you right away.
Foreclosure is an action by the bank to take back your property. You have the right to fight that action. The bank’s foreclosure lawyers must take specific steps in order to have the right to foreclose. In most cases, the court will take between 5 to 10 months to enter a final order in a foreclosure action. This time allows you or your foreclosure attorney to take action to save your home.
Additionally, almost all mortgages in the state of Florida give you or your defense attorney the right of “reinstatement.” This means at any time during the foreclosure litigation if the borrower comes up with the money for the late payments or can make a deal with the bank, the bank then legally must dismiss the foreclosure action.
Most people feel overwhelmed when they get sued for foreclosure–they move out of the house or sign the house over, not knowing that by hiring an attorney and fighting this action it is very possible to save their home, without filing bankruptcy.
We take foreclosure defense cases very seriously. We understand that nothing is more debilitating to a family than losing their home. It is by far most families’ biggest asset and the one that provides the most stability.
We take immediate action to avoid foreclosure and save your home.
We will appear in court for YOU.
Our lawyers understand what it takes to defend a foreclosure action in court. You can let the legal system work for you in the foreclosure. The bank’s lawyers know the easy victory is from those homeowners who do not defend themselves.
US Foreclosure Rates Surge
10% of all mortgages are now in foreclosure in America.
What this means for you
Mortgage companies are even more eager and willing to work with us because they are being overwhelmed with Mortgage Foreclosures. We know the Florida foreclosure process inside and out. Banks are eager to work with us because we make their jobs easier. We know what forms they require to stop foreclosure. Our documents are standardized to comply with the format used by each Mortgage lender, which makes our correspondence with them seamless. In return, the mortgage companies appreciate our expertise and negotiations run smoothly.
Our South Florida firm is one of the few in the state that handles foreclosure defense cases.
Click here to contact the Law Office of Korte & Associates, for foreclosure prevention throughout the State of Florida. We can help YOU!
If a foreclosure suit has been filed, we realize how stressful this process is on your family. It takes a toll on your financial stability, family’s emotions and your overall frame of mind.
A foreclosure is a lawsuit that the bank files against you to take back your property when the terms of the Mortgage are not being met. In the State of Florida, you only have twenty (20) days to respond once you are served with the Foreclosure Complaint.
Every homeowners has the right to defend the foreclosure, even if you didn’t respond within the twenty days. There may be several options to choose from to help you fight the foreclosure action. Some options may even provide the opportunity to help you save your home.
It is natural to feel overwhelmed and uncertain on what to do moving forward. It is critical to meet with an experienced foreclosure defense attorney who understands the foreclosure process and can help you sort out what options are available for your particular situation.
The attorneys at Korte & Associates, P.A. Have that experience. With seven attorneys and six paralegals that work together on the best strategy for your case, rather than one attorney making a quick decision to be able to balance numerous files in their workday. Combined, the attorneys at Korte & Associates have over 50 years of experience. Time is of the essence. Set up a free consult ion to discuss the details of your case.
Some of our clients are eligible for Mortgage Forbearance, which will give you some time to gather your assets. In Forbearance, you are allowed to delay or reduce payments for a short period, with the understanding that another option will be used at the close of that time to bring your account to a current status. Your lender, if in agreement, will then temporarily cease legal actions.
Lenders may agree to combine your Forbearance with Reinstatement or a Repayment Plan. This plan works for people who have just experienced a sudden living expense increase or income loss. We will negotiate with your lender to explain this hardship and hopefully get you the time you need to readjust your spending and recover financially.
**A forbearance agreement with the mortgage lender’s mitigation department usually does not take the borrower out of foreclosure at all, but rather simply causes the bank to “postpone” or “continue” the foreclosure sale until the payments are completely caught up. If the borrower does not comply with the exact terms of the forbearance agreement (a few days late, a few dollars short), the foreclosure sale takes place immediately (often within days).
What is a foreclosure?
When a secured creditor, usually a bank, attempts to recover monies owed to them based on a promissory note by selling the collateral. In more simple terms you have probably borrowed money from a bank or mortgage company in order to purchase or refinance a home. In exchange for lending you the money, you made a promise that if you could not pay them back they could take the house back.
Can the bank just come and kick me out of my house?
No. Only an order of the court can force you to leave your home. Ultimately you may be evicted but there are procedures within the court system that the mortgage holder must follow first for the foreclosure and then another set for the eviction.
What are some of the foreclosure steps?
In Florida, the pre-foreclosure timeline is as follows:
Sent by lender to you if a mortgage is in default. This is the first step towards beginning the foreclosure process.
As the Borrower, you have the opportunity to dispute the validity of the debt and/or the default, both of which should be done in writing to the lender at the earliest possible time.
Pursuant to Florida law, you have the right to reinstate your Mortgage by tendering all of the arrearages due on the Mortgage prior to the Lender exercising its option to accelerate.
The terms of the mortgage usually include the lender’s option to “accelerate” the mortgage upon a claimed default. This means that upon written notice to you, the lender can require you to pay the entire balance of the mortgage, not just the arrearages, in order to avoid the foreclosure. In most cases, your right to pay the arrearages and reinstate your mortgage terminates upon acceleration of the Mortgage. If the lender does not officially “accelerate” the mortgage by formal notice to you, the filing of the “Lis Pendens” may be interpreted by the Courts as a de facto notice of acceleration.
How long does it take to foreclose on a property in Florida?
Depending on the court schedule, it usually takes approximately 180-200 days to effectuate an uncontested foreclosure. This process may be delayed if the borrower contests the action, seeks delays and adjournments of hearings, or files for bankruptcy. It will also depend a great deal on your mortgage holder and how aggressively they pursue your case.
Once the foreclosure process starts is there anything I can do to stop it?
Yes. If working from your first late payment there are at least 10 or 20 different ways to resolve the situation. The longer you wait, however, the more some of these options will become unavailable.
At what point will I have absolutely no options left?
Never. You have not lost until you have decided the fight is over.