Expert Advice When You Need It Most
Facing Foreclosure: What the Bank Does Not Want You to KnowWritten by: Lori I Barkus Reputation Level 13
Posted over 2 years ago. Applies to Florida, 2 helpful votes, 0 comments
1
The bank does not want your house:Even though the bank is suing for foreclosure, the bank does not want to take your house. Banks lose a lot of money in foreclosure actions and, in some cases, it is better for the bank not to go through with the foreclosure. What this means for you is that, if you are facing foreclosure, the bank may be willing to work out an alternative with you. 2
You can defend a foreclosure:It seems simple. You owe the bank money. The bank has not been paid. So, the bank can come take your house and sell it. But that is not always the case. Florida foreclosure law requires the bank to follow certain steps and procedures. The bank in a foreclosure action also must provide certain documents and prove certain elements before a foreclosure can happen. Banks are large institutions who may have missed some of these steps and may have lost certain documents. You have the right to make the bank prove its case against you and defend a foreclosure action. 3
Foreclosure defense puts more stress on the bank and gives you a chance to avoid foreclosure.Once a bank files for foreclosure, the bank cannot accept mortgage payments from the homeowner. The bank is now responsible for many of the homeowner’s expense while the homeowner continues to live in the house. There are so many foreclosures in Florida that the process takes months, and even more than a year to complete. During this time, you can figure out a way to avoid foreclosure by selling your home, obtaining loan modification or finding a job so that you can pay the bills. 4
In sumEvery situation is different. If you are a homeowner in Florida who is facing foreclosure, it is important that you speak with a foreclosure attorney to find out your rights and options. Additional ResourcesThe information included in this article has been prepared by Lori Barkus, Esq. for information purposes only and is not intended to be a substitute for legal advise from your own legal counsel. Transmission of such information is not intended to create, and receipt does not constitute, an attorney-client relationship between Lori Barkus, Esq. and the receiver. No information in this article should be acted upon any person, entity or firm without first obtaining proper legal advise. Be advised that the act of sending electronic mail or any telephone communication with Lori Barkus, Esq. or Lori Barkus P.A. does not in and of itself create an attorney-client relationship. Related Questions1 Attorney answers: 
Asked by a user in Phoenix, AZ - almost 2 years ago. 2 Attorney answers: 
Asked by a user in Las Vegas, NV - about 1 month ago. 1 Attorney answers: 
Asked by a user in Donora, PA - over 1 year ago. Find Defective & Dangerous Products LawyersRelated Searches |