Many Florida homeowners are in their homes in Florida, and many others struggle to make payments on unsustainable home loans. If you have defaulted on your loan, you’ll want to know more about the Florida foreclosure process. This guide will help you understand the entire process from start to finish and gives you the ability to postpone or prolong foreclosures as long as possible so that you have time to negotiate an agreement.

Phase 1: Notice of breach

If you and your lender have not negotiated the creation of a payment plan, Florida will begin a foreclosure process if you are given a default notice. While you can send this message after a month of late payments, lenders often wait until you are in arrears of 3 months or more.

You will be told by default that you are in default and that legal proceedings are now underway. If you receive a default letter, please contact your lender immediately, before filing a legal claim for details on stopping the Florida foreclosure process.

Phase 2: Order

If the default notice is not replied to, the claimant will seek the full payment of the amount owed to your mortgage. At this stage, you have 20 days to respond to the complaint. You should not send a reply, but this will delay Florida’s forfeiture process and allow you time to explore your options. You have a foreclosure hearing when you file a reaction that gives you time to appear before a judge. If your loan witnessed mortgage, the Florida foreclosure phase may be halted or significantly delayed.

Phase 3: Auctions

If you lose your hearing (or if you do not file a reply that automatically satisfies the mortgage lender’s case), you will be remitted 30 to 45 days until the property is auctioned to the highest bidder.

There may still be time to consider ways to avoid Florida’s defaults, including refinancing your mortgage, selling your home soon, or submitting bankruptcy to Chapter 13. A mortgage attorney will advise your choices. Please contact me if you have received a sales notice to postpone or stop the Florida foreclosure process..

Even after you’ve sold your house, you can give it back for ten days. In this way, you have ten more days to pay back your mortgage before it can be taken away.