Florida Foreclosure Defense Attorney
In this difficult and challenging real estate market, the possibility of a home foreclosure is an unsettling but genuine consequence of today’s economy. The loss of a job, the devaluation of property, adjustable rate mortgage increases and unforeseen medical or other expenses are all scenarios that could cause one to fall behind in their home mortgage obligations. When you are delinquent with your home loan payments you will receive a letter from your lender putting you on notice of your default in payment(s). It is important to react appropriately to any notices that you receive. An Orlando foreclosure attorney from the Law Firm of NeJame, LaFay, Jancha, Ahmed, Barker and Joshi, P.A. can assist you in filing responses to late notices, handle any threatened legal action as a consequence of the outstanding obligation and defend you in a lawsuit in the event a Summons and Complaint is served to initiate a formal mortgage foreclosure lawsuit against you.
It is important to react appropriately to notices (especially court notices) as a homeowner may begin to lose precious legal rights in a relatively short time frame. A delay in reacting to the lender may make a bad situation worse. A borrower that fails to do anything at all may suffer the loss of his or her home. In the event that a foreclosure is filed against your property, Florida's mortgage foreclosure laws have serious, long lasting ramifications that could affect your future income, your creditworthiness, your ability to obtain new loans or mortgages and your income tax consequences.
Our representation in your foreclosure defense will provide you with:
- The knowledge you will need to make informed decisions during this time period
- Our legal compliance analysis of the loan documents, collection letters, default and foreclosure notices
- Our legal analysis structured to raise appropriate legal defenses in a formal foreclosure complaint filing
- Efforts to provide more time to pursue all loss mitigation and alternatives to foreclosure which may include:
- A loan modification (forbearance) agreement or other type of workout with the lender; the modification can result in a more favorable repayment schedule;
- An opportunity to refinance your property with exploration into government programs recently enacted to address homeowners facing foreclosure;
- Investigation into a short sale of the property to minimize the negative impact of a foreclosure; a short sale allows your property to be sold for an amount less than your outstanding mortgage;
- More time to sell your home for its fair market value;
- Request mediation in the jurisdictions where mediation is mandated to insure direct contact with a lender’s representative that can bind the lender in negotiations;
- Determine whether the lender will accept a Deed in Lieu of Foreclosure; and
- An exploration of your economic circumstances to determine if there are assets available to save the property or whether a bankruptcy is necessary to address the potential loss. The average homeowner does not like to consider bankruptcy, but it is a legal avenue that may be appropriate in the right circumstances.
Florida requires the filing of a civil action in order to foreclose upon a delinquent loan. The lender will file a lawsuit against the delinquent borrower and seek to involuntarily force the sale of the borrower’s home or real estate at a public auction to the highest bidder present on the day of the sale.
The proceeds of the sale will be delivered to the lender to pay all remaining amounts owed on the delinquent mortgage. If there are no bids at the foreclosure sale, the lender will be permitted to take title to the property or home, at which time, the lender will attempt to sell the home or real estate on the open market to recover its mortgage debt.
If a lawsuit is served upon you, the court requires a response within twenty (20) days from the time you were served with the lawsuit. If one fails to respond, a default judgment is available to the lender. It is important to seek legal assistance in filing an Answer to the Complaint within the time allocated. NOTE: It is imperative that you act before the Court enters a default. Do not ignore the Complaint. If no response is filed, a home can be lost in as little as 60 days from the date a Complaint is served. (Please note in Orange County and several other counties in Florida, the chief judge has filed an executive order that a foreclosure lawsuit cannot proceed before mediation is attempted between the parties).
Once a judgment enters, the court will schedule a foreclosure sale approximately thirty (30) days from the date of judgment entry. After the sale of the property, the homeowner can face eviction.
Visit our Foreclosure FAQs page for detailed information on the most frequent asked questions about an Orlando Home foreclosure.
Contact our Foreclosure Defense Attorney in Orlando, Florida
If you are facing foreclosure don’t wait until the last minute. Help is Here! Contact an Orlando foreclosure lawyer from NeJame Law to defend you regarding any home foreclosure throughout Central Florida. We can be reached at (407) 245-1232, by e-mail us at Civil@NeJameLaw.com or filling out our online form.
