Wesley T. Dunaway, P.A.

How Long Do I Have In My Home After Receiving A Foreclosure Notice?

Without knowing all of the details of your situation, it is impossible to know how long the case will take. However, if you have been served with a summons and complaint, you have only 20 days to respond to the complaint. You may give up certain legal rights by failing to respond to the complaint or by being late.

What Should I Do After I Have Received A Foreclosure Notice?

We recommend seeking the advice of an experienced attorney once you’ve been served. You may give up certain legal rights by failing to respond to the complaint or by being late. Your attorney may not have time to give your case the attention it deserves if you wait until the last minute.

At What Point Should I Get An Attorney Involved In The Foreclosure Proceeding?

We recommend consulting an attorney as soon as you think foreclosure is a possibility. Sometimes it is possible to resolve issues before litigation begins, which saves everyone time and money.

Should I First With A Company To Try To Get Out Of Debt Before Hiring An Attorney?

It may be possible to resolve debtor issues without an attorney. However, there are some unscrupulous people out there engaged in an illegal practice called “equity stripping,” who promote themselves as “foreclosure rescue” services. Before entering into an agreement to stop or prevent foreclosure, we recommend discussing your case with an experienced attorney.

What Is Loss Mitigation In Foreclosure Defense?

Loss mitigation is a process used by mortgage lenders to work with buyers who are delinquent on their home loans. Through the loss mitigation process, a lender may modify the terms of a home loan, allowing the homeowner to sell the property for less than is owed, or transfer the deed back to the lender. Many banks have loss mitigation programs that allow borrowers to modify the terms of a mortgage, so they can stay in their home.

What Is A Consent Foreclosure?

A consent judgment is issued when two parties agree to a settlement to end a lawsuit. Typically, the borrower agrees to a foreclosure judgment in favor of the bank, in exchange for an extended foreclosure sale date or other concessions.

What Is The Right Of Redemption?

Under the law in Florida, at any time before the foreclosure sale, the borrower is entitled to “redeem” the mortgage by paying the amount due under the foreclosure judgment. However, it can be expensive to exercise the right of redemption, because the lender will not only be entitled to recover all of the outstanding mortgage balance, it will also be entitled to recover all of its attorney’s fees and costs incurred in bringing the foreclosure case along with other charges – which could total thousands of dollars.

What Is The Role Of a Deficiency Judgment In A Foreclosure?

If a property is foreclosed upon and sold at auction, but the amount collected at the foreclosure sale is inadequate to satisfy the mortgage, the lender may be entitled to a judgment against the borrower for the difference between what is owed and what was collected at the foreclosure sale.

How Can Your Attorney Use A Chain Of Title To Defend against Your Foreclosure?

To successfully prosecute a foreclosure action, the foreclosing bank must prove that it is the rightful owner of the promissory note and mortgage being foreclosed. However, banks can transfer loans, and this is a common practice. Some courts have found fraudulent or inadequate loan documents in some cases and have dismissed foreclosure lawsuits for that reason. Defective chain of title can be the grounds for a motion to dismiss, an affirmative defense or the basis of a counterclaim against the bank.

How Can Promissory Notes Be Key To A Foreclosure Defense?

Florida banks are held to a duty of providing the courts with proper, valid documentation in support of their foreclosure lawsuit. Typically, the bank must furnish the court with the original, signed promissory note. If the note is lost, the bank must establish by competent legal evidence that it is the rightful owner of the lost evidence. An experienced foreclosure attorney can help deal with the complex legal issues surrounding claims involving lost notes.

What Other Defense Strategies Can My Attorney Employ In My Foreclosure Defense?

An experienced attorney might argue that the bank engaged in fraud or misrepresentation in making the loan or pursuing the foreclosure. Sometimes the bank –not the borrower – breached the contract, and that is a valid foreclosure defense. Defective service of process can be a useful argument in foreclosure cases. An experienced foreclosure defense attorney will tailor the defenses to your particular case, to maximize the odds of success.

For more information on Foreclosure Defense In Florida, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (407) 917-7489 today.

Wes Dunaway, Esq.

Get your questions answered - call for a free consultation (407) 917-7489.

Request A Free Consultation

Follow Us On