The Florida foreclosure laws can be complicated if you are not aware of all the detailed information for the Florida Statutes Chapter 702. As defined in the statutes, the mortgage lenders have a legal right to begin a judicial foreclosure on your home if you as the owner become default on your due mortgage payments. Although this may not seem fair, foreclosure is a way for the lender to regain what they may have lost when you defaulted on your payments. This isn't always negative for the borrower. Foreclosure is also your way of breaking even on the loan that you took out in the even that you aren't able to make the agreed upon payments in the loan contract.
Bankruptcy Trustee, California Bankruptcy Lawyer, Bankruptcy Attorney Ventura,
The foreclosure process is usually a quite simple process that can take up to 5 months for the whole proceedings to be completed between you and the lender. The lender will begin the proceeding by filing a lawsuit against you. This lawsuit will state that they are asking to seize control of the property because your payments have gone into default. According to state law, the lender is not required to give you any advanced notice that the proceedings will begin until specified in the mortgage contract.
Once the lender officially sends notice through certified mail, you will need to contact the South Florida foreclosure lawyer to help you with all the proceedings that will follow. According to the Florida statutes, the lender is also not required to inform anyone that may be on the mortgage except the primary borrower who is stated on the mortgage. As soon as the lender has taken some kind of official court action, the process has begun and it is in your best interest to contact a foreclosure lawyer immediately for help during your case. Remember that during the foreclosure, the lender could ask for the whole mortgage reimbursement, not just the defaulted amount due. The court will usually make a decision on what they think will be in the best interest for all parties involved. During the court hearing, the lender also might choose to revoke the house, so you need to be prepared to be evicted immediately upon judgment from a court.
Foreclosure can be a hard process to go through unless you are fully prepared. Speaking with a bankruptcy and foreclosure lawyer ahead of time will prepare you for all the proceedings that are about to take place.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Declare Bankruptcy
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment