What Is The Foreclosure Process In Florida? How Long Do I Have To Respond To A Foreclosure Summons?
If you are served with a summons, you have 20 days to respond to the Complaint. If you fail to respond in the time line the Plaintiff (generally the bank suing you) can move for what is called a default. That means, that you failed to respond to the Complaint timely and that you have now have admitted to all the allegations against you. A default, also prevents you from participating in the case and actively defending yourself against the foreclosure. So, time is very much of the essence when responding to a foreclosure action. Waiting only makes things worse – contact the Dubyak Law Firm, P.A. today for a free consultation.
Once A Lender Begins Foreclosure Proceedings, Does A Homeowner Have Any Chance Of Saving The Property?
Yes, absolutely. The homeowner can save their property through either proving that the Plaintiff, normally the bank, can not prove their case of foreclosure. The other methods of saving the home could be selling it on the open market to maximize your profits (if your property has equity), reinstatement of the loan (paying the amounts currently owed), loan modification – either through your current lender or another lender. And, paying off the existing loan.
At Dubyak Law Firm, P.A., we have contacts with great realtors to effectively market your home and different types of home buyers, including cash buyers. We also, work with many mortgage brokers and bankers that may be able to help you get access to the money you need to get out of foreclosure. There are certainly opportunities to save your home or to cash out the equity in your home during the foreclosure process.
Can Your Firm Help Homeowners Facing Foreclosure Who Are Unsure Whether They Want To Save Or Sell Their Property?
Trying to decide what to do about your home in a foreclosure situation can be overwhelming. It is perfectly normal for homeowners to feel uncertain about what to do. Fortunately, our firm can help you understand your options and come to the best decision for you and your family.
Determining what you should do with your home depends on several factors. Mostly, it revolves around what action you would like to take and what you can do based on your circumstances.
Even if you have fallen behind on your loan, if you have income and the ability to get current on your loan, there are ways to fix the situation. For example, there are repayment plans to get you caught up on payments so you can stay in your home.
If you have you don’t have enough money to make payments, your best option may be to sale the property if there is equity or try to delay the foreclosure as long as possible. You may be able to stay in your home for less than you could rent.
For instance, if you would pay $500 a month in attorney’s fees or $1,500 a month in rental fees, that equals a net savings of $1,000 for each month you stay in your home.
If you have equity in your home and you do not have the ability to pay, we will need to slow down the foreclosure process. This will allow you time to properly market your home, get it sold, and cash out on your equity.
When Should You Hire A Foreclosure Defense Attorney?
Facing foreclosure can be daunting, and knowing when to get legal help is crucial. Here’s the deal: before any foreclosure action kicks off, your lender has to send you a pre-foreclosure letter. This letter is a heads-up that you need to catch up on payments, and that foreclosure is on the horizon if things stay the same within 30 days.
So, what’s your best move? Ideally, as soon as that first letter lands, you should be on the phone with us at the Dubyak Law Firm, P.A. The truth is the longer you wait for legal advice, the trickier things get. If you’ve already been served with a foreclosure summons, don’t sweat it too much, but do reach out to a foreclosure defense attorney immediately. You’ve got about 20 days before the lender might default you, which just adds another layer of complexity to your case.
Let’s break down the timeline. You won’t see a foreclosure summons until you’re about four payments behind. This gives you a window of around four months from your first missed payment to gear up for what’s coming. Reaching out to a foreclosure attorney sooner rather than later can make a huge difference.
Here at the Dubyak Law Firm, P.A., we’re all about giving you a fighting chance against foreclosure. We know the ins and outs of these cases, and we’re here to guide you every step of the way. Need more info on foreclosure law in Florida or want to chat about your options? An initial consultation with us is the perfect starting point. Don’t wait around—your home and peace of mind are at stake.
More Information
- Preventing Or Delaying The Worst: The Role Of Foreclosure Defense Attorneys In Florida
- What To Do Before Purchasing A Property In Florida Being Foreclosed By An HOA
- Important Information About Purchasing Foreclosure Properties
- What To Do If You’re Facing Foreclosure
- Common Options For Selling A Distressed Property In Florida
- The Consequences Of Letting Your Home Fall Into Foreclosure
- The #1 Mistake You Should Avoid As A Homeowner Facing Foreclosure
