Information taken from: www.foreclosurelaw.org
- Judicial Foreclosure Available: Yes
- Non-Judicial Foreclosure Available: No
- Primary Security Instruments: Mortgage
- Timeline: Typically 180 days
- Right of Redemption: Yes
- Deficiency Judgments Allowed: Yes
In Florida, all mortgages are foreclosed in equity. In a mortgage foreclosure action, the court severs, for separate trial, all counterclaims against the foreclosing lender. The foreclosure claim shall, if tried, be tried to the court without a jury. The court order of foreclosure will specify how the foreclosure must take place, and the Florida foreclosure must take place on those terms. Whenever a legal advertisement, publication, or notice relating to a foreclosure proceeding is required to be placed in a newspaper, it is the responsibility of the lender or their representative to place such advertisement, publication, or notice.
Equitable Right of Redemption ends at the foreclosure sale (or at another time specified by the courts, but this rarely happens). There is a period of time after the sale that "the court reviews the sale to ensure a fair price has been paid." Basically, this period of time allows parties to object to the sale on the basis that proper procedures were not followed or collusion existed between the bidders, for example. This period is usually 10 days, after which the Certificate of Sale is filed and title passes, if the sale is confirmed. If the sale is not confirmed, another sale is ordered. (Reference F.S. Chapter 702)The lender may sue to obtain a deficiency judgment in Florida.
Showing posts with label florida foreclosure assistance. Show all posts
Showing posts with label florida foreclosure assistance. Show all posts
Thursday, November 6, 2008
Wednesday, October 15, 2008
Where to Turn for Foreclosure Assistance
Where to Turn for Foreclosure Assistance
Facing foreclosure can be a scary thing and most people do not know where to turn when it comes to foreclosure assistance.
It’s funny because the least likely place to look for foreclosure assistance is actually the first place you should look. The first thing you need to do is call your mortgage lender. Despite the popular belief, mortgage lenders do not want to posess your home. They are not in the real estate business and it costs them a lot of time and money not only to foreclose, but to sell the house after they acquire it in a foreclosure. No, mortgage lenders do not want your home, what they really want is their loans paid.
The reason you call your Denver mortgage lender first when you need help stopping foreclosure is that your mortgage lender holds your mortgage and may have several ways to assist you. Your Denver lender can decide to let you have more time to pay, agree to modify or change your mortgage payment terms, etc. Most mortgage lenders in Denver will work with you, but there is not requirement that they do that. Some of the lenders out there will not work with you for whatever reason. So you call your mortgage lender first to see if they can help you stop or avoid foreclosure.
Another source to look for foreclosure assistance is to check with several lawyers in your area. The reason for checking with several lawyers is that some lawyers are more helpful than others. And their fees will vary, some charge more than others. You will probably want to talk with a bankruptcy lawyer because bankruptcy lawyers deal with matters of stopping debt collection. A Denver lawyer can tell you your legal rights as well as explain to you the complete foreclosure process.
A third place to look for foreclosure help is the internet. However, you need to be careful. We have seen a number of websites claiming to be stop foreclosure specialists. I do not know of any government or private organization that certifies stop foreclosure specialists. I have also seen websites that claim to tell you the foreclosure law for your state. I know for a fact that some sites have not completely stated my state's foreclosure law and that by being incomplete, they may mislead website viewers. A lot of the information on the internet is good information, but you need to be careful. "If it sounds to good to be true, it probably isn't true".
Whether you look locally or on the internet for assistance in stopping foreclosure help, check several sources use your best judgment as to what is true and what is not true, and be sure of what the fees are before you have any individual or company take any action on your behalf. Be suspect of any individual or company that will not tell you up front what they can do for you to stop or avoid foreclosure.
It is important that you realize that you may have several options to stop or avoid foreclosure, but that not every option will work in every situation.
Facing foreclosure can be a scary thing and most people do not know where to turn when it comes to foreclosure assistance.
It’s funny because the least likely place to look for foreclosure assistance is actually the first place you should look. The first thing you need to do is call your mortgage lender. Despite the popular belief, mortgage lenders do not want to posess your home. They are not in the real estate business and it costs them a lot of time and money not only to foreclose, but to sell the house after they acquire it in a foreclosure. No, mortgage lenders do not want your home, what they really want is their loans paid.
The reason you call your Denver mortgage lender first when you need help stopping foreclosure is that your mortgage lender holds your mortgage and may have several ways to assist you. Your Denver lender can decide to let you have more time to pay, agree to modify or change your mortgage payment terms, etc. Most mortgage lenders in Denver will work with you, but there is not requirement that they do that. Some of the lenders out there will not work with you for whatever reason. So you call your mortgage lender first to see if they can help you stop or avoid foreclosure.
Another source to look for foreclosure assistance is to check with several lawyers in your area. The reason for checking with several lawyers is that some lawyers are more helpful than others. And their fees will vary, some charge more than others. You will probably want to talk with a bankruptcy lawyer because bankruptcy lawyers deal with matters of stopping debt collection. A Denver lawyer can tell you your legal rights as well as explain to you the complete foreclosure process.
A third place to look for foreclosure help is the internet. However, you need to be careful. We have seen a number of websites claiming to be stop foreclosure specialists. I do not know of any government or private organization that certifies stop foreclosure specialists. I have also seen websites that claim to tell you the foreclosure law for your state. I know for a fact that some sites have not completely stated my state's foreclosure law and that by being incomplete, they may mislead website viewers. A lot of the information on the internet is good information, but you need to be careful. "If it sounds to good to be true, it probably isn't true".
Whether you look locally or on the internet for assistance in stopping foreclosure help, check several sources use your best judgment as to what is true and what is not true, and be sure of what the fees are before you have any individual or company take any action on your behalf. Be suspect of any individual or company that will not tell you up front what they can do for you to stop or avoid foreclosure.
It is important that you realize that you may have several options to stop or avoid foreclosure, but that not every option will work in every situation.
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