It's always better to avoid a foreclosure. If you can sell the house and get the lender to accept what you sell it for and agree not to seek a deficency judgment against you. But generally that is tough to do.
Yes, you must Answer the Complaint served on you. Lenders have two tracks one is the lawsuit track and the other is the loan modification track. They do not communicate with each other and do not know what the other is doing most of the time.
Call your local bar association to locate a legal aid attorney. The lender should give you the terms in writing. If foreclosure suit is filed get an attorney to buy you time to pursue whatever options you choose.
You should hire a foreclosure defense attorney, we can buy you some time to build up a cash reserve to make a move. I have clients who have been in their house for two years after making their last mortgage payment.
You have time until you are served with suit papers. Lenders file early and late. I have head of cases filed within 3 months after last payment to more than one year.
Once suit is served on you, you have 20 days to file an Answer, if not the Lender with get a default and then a final judgment authorizing sale of your house.
If an Answer is filed and you fight the foreclosure you may have a significant period of time to seek loan modification, sell the house or build up a cash reserve to make...
No, the lender can prove the promissory note through Fla. Stat, sec 673.3091.
673.3091. Enforcement of lost, destroyed, or stolen instrument
(1) A person not in possession of an instrument is entitled to enforce the instrument if:
(a) The person seeking to enforce the instrument was entitled to enforce the instrument when loss of possession occurred, or has directly or indirectly acquired ownership of the instrument from a person who was entitled to enforce the instrument when loss of...