The Foreclosure Process in Florida

The Foreclosure Process in Florida

It takes a lender approximately three to four months to foreclose on a property when a homeowner defaults. Of course if you choose to defend your foreclosure suit, it could take much longer. The foreclosure defense process in Florida typically is as follows:

• The borrower gets behind on their mortgage (typically 3 to 5 months, of course this varies depending on the bank);
• At this point the bank or lender sends out a notice of default (this is the first step they take to start a foreclosure proceeding and if they do not send a notice of default you may have another valid defense);
• If the mortgage is not caught up or a deal is not made with the bank (such as a loan modification) then the bank or lender will file a foreclosure lawsuit.
• At this point the borrower is served with the lawsuit
• THE BORROWER HAS 20 DAYS TO ANSWER THE FORECLOSURE LAWSUIT
• The borrower will have the opportunity to defend the lawsuit by hiring an attorney or representing themselves. They will have to file an answer with the court.
• A hearing date will be set in front of the judge.
• During this time, your attorney will ask for discovery, take depositions, and anything else they need to do in order to prepare for summary judgment or trial
• The judge will make a ruling. If the judge rules in favor of the lender, a foreclosure sale date will be set. Once the property is sold, the borrower will lose all of their rights to the property.
• It is imperative to know that if you do not respond to the foreclosure lawsuit within the 20 days of being served you may lose all of your rights to fight the foreclosure lawsuit and stay in your home.

It is still possible to prevent foreclosure on your home. Call the office of Leslie Burgk today and begin the fight against foreclosure.