South Florida Foreclosure Defense Attorneys

What Is the Foreclosure Timeline in Florida?

• Day 1 - You are just falling behind and you miss your first mortgage payment by a day. No penalties will be assessed at this time
• Day 16-30 - A late charge is now assessed to your payment. Your lender or mortgage servicer will contact you for an explanation and to try and resolve the situation from deteriorating further.
• Day 45-60 - The servicer sends a "demand" or "breach" letter to the borrower stating the mortgage terms that have been. The borrower is given only 30 days to resolve the delinquent amount.
• Day 90-105 - The servicer refers the loan to its loss mitigation department/foreclosure department and retains an attorney or other firm to handle the foreclosure proceedings. Depending on where the home is located, the servicer's representative may record a notice of default at the local courthouse. This notice of foreclosure will be published in the local newspaper.
• Day 150-415 - A notice of Trustee Sale is filed, and the home is scheduled to be sold at foreclosure sale or auction. This time range varies due to individual state laws and requirements.

This timeline can be extended in states where a foreclosure is managed by the court system, also known as judicial foreclosure.

How To Stop a Foreclosure

Foreclosure is just a lawsuit brought by the lender to take back your home. Just like the lender, you have powerful right, which include forcing the lender to prove their case. Lenders are required to prove more than you are just behind on your mortgage.

Due to the lender's actions, omissions, or other facts surrounding your case, you may be able to stop making mortgage payments and stay in your home while your attorney vigorously defends your property. This does not necessarily mean that you will not have to pay the loan back or completely stop foreclosure.

Lenders must take specific steps to prove their right to foreclose. The lender needs to not only prove that you owe them the money, they need to show how they calculated the amount due, and that they actually own the mortgage. If the lender cannot prove their case, foreclosure proceedings will cease.

It is also possible to completely stop foreclosure if the bank or lender is in violation of the Florida Unfair Lending Act or other predatory lending practices. If the lender has committed such a violation, the entire principal and interest balance may be waived, and the mortgage may be voided.

At the very least, a successful defense can buy you precious time to:

• Stay in your home
• Negotiate a mortgage loan modification with the bank
• Negotiate a short sale agreement
• Sell your home for a fair price
• Refinance your home at a fair rate
• Continue to collect rent on the property
• Apply for a court ordered repayment plan
• File a Chapter 13 or Chapter 7 Bankruptcy

When homeowners are faced with the reality of facing a potential foreclosure, many simply don't know what to do. Selling the home may not be an option because the equity appears to have vanished. However, it is possible to fight foreclosure and get the results you need, and our lawyers can help you do just that.

Looking for a foreclosure defense lawyer near you? Bilu Law is here to help. Call (954) 239-7386 or connect with us online to get started today.

What Happens When the Bank Files the Foreclosure?

Most people don't know that once the foreclosure proceeding has started, the bank will not accept any future mortgage payments. This is because doing so may adversely affect their ability to foreclose on your property.

Once the bank files a foreclosure lawsuit, most of the homeowner's expenses are being paid by the bank. Furthermore, the bank pays any delinquent real estate taxes and the insurance on the property.

However, as the legal owner of the house with full possession, you have all the rights associated with the same including:

• Residing in your home
• Collecting rents on the property
• And more

Is the Foreclosure Process the Same in Every State?

The foreclosure process varies in every state and it's imperative that homeowners understand this process. An educated consumer is always an informed consumer who can make a good decision based on facts.

Our attorneys will offer educational resources on foreclosure law throughout this website. We can go over the details of your case as it results to state and federal law in a consultation.

Does the CDC Eviction Order Apply to Homeowners?

On September 4, 2020, the Centers for Disease Control and Prevention (CDC) issued a temporary moratorium on evictions through the end of the year. This was done as a measure to slow the continued spread of COVID-19.

However, this order specifically deals with residential renters and lessees, not homeowners or commercial property owners. In fact, the CDC order defines “evict” and “eviction” as specifically not inclusive of home mortgage foreclosures.