Free housing counseling is available from www.hud.gov and NeighborWorks America for people facing foreclosure. If you have been served papers, contact your local legal aid office immediately: www.floridalawhelp.org. The Florida Bar Lawyer Referral Service offers referrals to attorneys for low-fee consultations.
Full Answer
Do I need a lawyer for a foreclosure in Florida?
Aug 19, 2013 · The following article was written by Kimberly Miller – for the Palm Beach Post and republished with excerpts by Roy Oppenheim, Oppenheim Law for the South Florida Law Blog. WEST PALM BEACH — Florida’s five-year deadline to foreclose on a home is ticking on thousands of aging cases statewide, giving lucky borrowers a shot at a free house and catching banks …
How can I stop a foreclosure in Florida?
Jun 08, 2020 · Florida is a judicial foreclosure state. Therefore, a bank or HOA seeking to foreclose a home must receive approval from a judge. The case must be filed in the circuit court where the property is located. Under Florida foreclosure law, all mortgage foreclosure cases are to be conducted in a court of equity. Courts of equity are authorized to apply principles of equity …
Where can I find a foreclosure lawyer near me?
The Consumer Protection Law Committee has foreclosure information for consumers and attorneys. Free housing counseling is available from www.hud.gov and NeighborWorks America for people facing foreclosure. If you have been served papers, contact your local legal aid office immediately: www.floridalawhelp.org .
How does foreclosure work in the state of Florida?
How long does a judicial foreclosure take in Florida?
about 4-6 months
Florida foreclosures occur through the judicial system and can take about 4-6 months to complete.
How can I get out of foreclosure in Florida?
Seek Help Early
- Steps to take - act now if you think you will be unable to pay your mortgage.
- HUD-approved housing counseling agencies - local agencies that provide FREE foreclosure avoidance counseling.
- (888) 995-HOPE - FREE foreclosure prevention counseling on the phone or online.
- Florida's Hardest Hit Fund.
How much does a foreclosure cost in Florida?
Initial Filing Fees
| Filing Type | Cost |
|---|---|
| Foreclosure Claims $50,000 and less (Level 1) | $400 |
| Foreclosure Claims more than $50,00 and less than $250,000 (Level 2) | $905 |
| Foreclosure Claims $250,000 and above (Level 3) | $1,905 |
Does Florida have non-judicial foreclosures?
Florida does not have non-judicial foreclosure. Each and every foreclosure – without exception – proceeds through the courts, has a judge sign off on the sale, and is sold at a public auction conducted by the local county.Dec 11, 2019
How many missed payments before foreclosure in Florida?
Under federal law, the servicer usually can't officially begin a foreclosure until you're more than 120 days past due on payments, subject to a few exceptions. (12 C.F.R. § 1024.41). This 120-day period provides most homeowners with ample opportunity to submit a loss mitigation application to the servicer.
What are the foreclosure laws in Florida?
Florida is a judicial foreclosure state. Therefore, a bank or HOA seeking to foreclose a home must receive approval from a judge. The case must be filed in the circuit court where the property is located. Under Florida foreclosure law, all mortgage foreclosure cases are to be conducted in a court of equity.Jun 8, 2020
Are Florida foreclosures increasing?
In Orlando, one in every 2,655. While Florida was ranked second for highest number of foreclosure starts in February, across the U.S., 39 states and the District of Columbia all saw foreclosure frequency increase by 40%, according to ATTOM. It was up 176% from the year before.Mar 10, 2022
How do foreclosures work in Florida?
In Florida, the method of foreclosure is through the judicial process, meaning the lender must file a lawsuit in state court. Depending on the size of the court docker, it can take anywhere from 180 to 200 days to force an uncontested foreclosure, and it can take even longer if the borrower contests the action.
Does Florida have a redemption period after foreclosure?
Florida residents have a 10-day redemption period to buy back a property after a foreclosure sale is complete. It is fundamental to understand that the purpose behind Florida's statutory redemption period is to guarantee that foreclosed properties are sold at a fair price.Dec 28, 2021
What is pre foreclosure in Florida?
Preforeclosure occurs when a homeowner fails to make mortgage payments, prompting the lender to issue a notice of default. This is a legal notice and means that the lender has begun the legal process of foreclosure.Mar 4, 2022
How does pre foreclosure work in Florida?
In Florida, the pre-foreclosure process typically begins when a homeowner misses a number of mortgage payments. The lender will then issue a notice of default, allowing the homeowner to reinstate the mortgage loan by paying the outstanding debt.Nov 29, 2021
How long does it take for notice of lis pendens to foreclose in Florida?
In the event the judge is in favor of the lender, the home can go to a foreclosure sale 30 to 45 days after the judge renders a decision. If you are in default or your lender is foreclosing your home, contact the West Palm Beach foreclosure attorneys at Kelley Fulton Kaplan & Eller.Sep 25, 2019
How do you stop foreclosure?
Chapter 13 is a reorganization bankruptcy; it gives homeowners the opportunity to reorganize debt into a more manageable payment. In addition, it m...
How do you modify a mortgage?
In a Chapter 13 case, you can apply for a loan modification. You can also contact the bank directly to apply for a loan modification. It is not req...
Will bankruptcy stop a foreclosure sale?
When a Chapter 7 or Chapter 13 case is filed, an automatic stay is instantly put into effect. The automatic stay is a federal law that stops all fo...
If I walk away can the bank sue me?
Often, after a foreclosure auction, there will not be enough funds from the sale to pay the loan in full. In cases such as these, the bank may sue...
Can I keep my home if I file bankruptcy?
Yes, homestead (primary residence) is a protected asset in both Chapter 13 and Chapter 7 bankruptcy. Therefore, you may not have to forfeit your ho...
How long does bankruptcy stay on my credit?
A borrower can become eligible for a mortgage with Fannie Mae after only two years have passed since a bankruptcy discharge. Moreover, if a debtor...
Is there a Jury in Florida foreclosure cases?
Foreclosure cases in Florida are conducted without a jury. Instead of a jury, the judge will decide the fate of the case. Homeowners will have to p...
What is the Unclean Hands defense?
An example of unclean hands is tortuous interference by the bank. If there is evidence that establishes the bank tortuously interfered with enforci...
How to get a foreclosure in Florida?
In a Florida foreclosure, you'll most likely get the right to: 1 receive a preforeclosure breach letter 2 apply for loss mitigation 3 get notice of the foreclosure and the chance to respond in court 4 get current on the loan and stop the foreclosure sale 5 receive special protections if you're in the military 6 pay off the loan to prevent a sale 7 file for bankruptcy, and 8 get any excess money after a foreclosure sale.
How long does it take for a foreclosure sale to take place in Florida?
The foreclosure sale must take place 20 to 35 days after the judgment date unless the court order says otherwise. (Fla. Stat. § 45.031). The sale is an auction, which is open to the public. At the sale, the lender usually makes a credit bid. The lender can bid up to the total amount owed, including fees and costs, or it may bid less. In some states, including Florida, when the lender is the high bidder at the sale but bids less than the total debt, it can get a deficiency judgment against the borrower. If the lender is the highest bidder, the property becomes what's called "Real Estate Owned" ( REO).
What is a breach letter in Florida?
Many Florida mortgages have a provision that requires the lender to send a notice, commonly called a " breach letter ," informing you that the loan is in default before the lender can accelerate the loan. The breach letter gives you a chance to cure the default and avoid foreclosure.
Can you reinstate a loan in Florida?
Florida law doesn't provide a statutory right to reinstate the loan before the sale. But many mortgages, like the uniform Fannie Mae/Freddie Mac mortgage, provide the borrower the right to cure the default after acceleration and reinstate the loan. Check your loan documents to find out if you get a reinstatement right and, if so, the deadline to complete one. Also, the lender might agree to allow a reinstatement. Call your loan servicer if you want to find out about reinstating your loan.
How long does a mortgage servicer have to contact you?
Under federal mortgage servicing laws, if the property is your principal residence, the servicer must contact, or attempt to contact, you by phone to discuss loss mitigation options, like a loan modification, forbearance, or repayment plan, no later than 36 days after you miss a payment and again within 36 days after each following delinquency. No later than 45 days after missing a payment, the servicer has to inform you in writing about loss mitigation options that might be available and appoint personnel to help you try to work out a way to avoid foreclosure. A few exceptions are in place for some of these requirements, though, like if you've filed for bankruptcy or asked the servicer not to contact you pursuant to the Fair Debt Collection Practices Act. (12 C.F.R. § 1024.30, 12 C.F.R. § 1024.39, 12 C.F.R. § 1024.40).
How long can you wait to file for foreclosure?
Under federal law, the servicer usually can't officially begin a foreclosure until you're more than 120 days past due on payments, subject to a few exceptions. (12 C.F.R. § 1024.41). This 120-day period provides most homeowners with ample opportunity to submit a loss mitigation application to the servicer.
What happens if you don't respond to a foreclosure lawsuit?
If you don't respond to the suit, the lender will ask the court for, and probably receive, a default judgment, which will allow it to hold a foreclosure sale. But if you choose to defend the foreclosure lawsuit, the case will go through the litigation process.
What is the Florida foreclosure law?
Under Florida foreclosure law, all mortgage foreclosure cases are to be conducted in a court of equity. Courts of equity are authorized to apply principles of equity (fairness), as opposed to only legal defenses. Therefore, the judge can consider acts by the bank that would render the foreclosure unfair.
Is Florida a judicial foreclosure state?
Florida is a judicial foreclosure state. Therefore, a bank or HOA seeking to foreclose a home must receive approval from a judge. The case must be filed in the circuit court where the property is located. Under Florida foreclosure law, all mortgage foreclosure cases are to be conducted in a court of equity. Courts of equity are authorized ...
Do foreclosure cases in Florida have a jury?
Foreclosure cases in Florida are conducted without a jury. Instead of a jury, the judge will decide the fate of the case. Homeowners will have to persuade the judge to rule in their favor. Judges are typically a lot less likely to be persuaded by principles of fairness than a jury would be. Therefore, you should consult with a foreclosure defense attorney to learn more about potential legal defenses. There may be a legal defense that would require the judge to deny the foreclosure.
How to prove unclean hands?
Proving Unclean Hands. To establish unclean hands, the homeowner must prove a fraudulent or illegal transaction. Alternatively, prove unrighteous, unconscious, or oppressive conduct by the mortgage company in regards to the loan. See Epstein v. Epstein.
What is a condition precedent for foreclosure?
A condition precedent is an event that must occur before performance under a contract becomes due. A common condition precedent in foreclosure cases is the bank’s requirement to send the homeowner notice of the default. Notice of default is just one example, there may be many other conditions precedent for the bank as well. For more information on the possible conditions precedent, your lender may be required to fulfill contact a foreclosure defense law firm in Tampa.
How long does a Chapter 13 mortgage last?
Chapter 13 allows homeowners to force the bank to accept a 5-year payment plan for the past due amount. The homeowner won’t have to pay the full mortgage in 5 years, only the amount that is past due. You don’t need to apply for a loan modification, you can force the bank into the 5-year payment plan.
What is condition precedent?
A condition precedent is an event that must occur before performance under a contract becomes due. A common condition precedent in foreclosure cases is the bank’s requirement to send the homeowner notice of the default.
You can only redeem your home in Florida (and thereby get it back) before the foreclosure is final
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What is foreclosure?
In laymen’s terms, foreclosure is when the banks comes to re-possess your home.
Outside of Florida: Under Power of Sale (or Non Judicial Foreclosure)
In many areas outside of Florida, foreclosure goes through “power of sale” or “non-judicial foreclosure.” In this scenario, parties with an interest in the property must be notified (as well as judicial foreclosure). Parties with an interest typically include contractors, other bank lending, city liens.
What Happens After A Foreclosure Auction?
When foreclosure finishes, the loan is paid off with the sale proceeds. In some cases, if the sale of the property at auction doesn’t cover the loan, a deficiency judgment can be issued against the borrower.
Quotes
Example
Significance
- If the lender gets a judgment of foreclosure, the court schedules a sale of the property not less than 20 days, but no more than 35 days, after the judgment (unless the plaintiff or plaintiffs attorney consents to additional time). (Fla. Stat. § 45.031).
Publication
- A notice of sale must be published in a newspaper for two consecutive weeks with the second publication at least five days before the sale. (Fla. Stat. § 45.031).
Ownership
- At the foreclosure sale, the property will be sold to the highest bidder, which is often the foreclosing lender. (The lender usually makes a credit bid at the foreclosure sale.) If the lender is the highest bidder, the property becomes REO.
Issue
- Certificate of sale. Under Florida law, the court clerk must promptly file a certificate of sale after the foreclosure sale takes place. (Fla. Stat. Ann. § 45.031). This usually occurs within one day of the sale. Certificate of title. The borrower has ten days after the certificate of sale to file an objection to the amount of the bid. After ten da...
Advantages
- The court has flexibility regarding the amount of the deficiency, which can't exceed the difference between the judgment amount and the fair market value in the case of an owner-occupied residential property. (Fla. Stat. § 702.06).
Prevention
- If you need more information about how foreclosures work in Florida, or want to learn whether you have any potential defenses to a foreclosure, consider talking to a foreclosure lawyer.
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