Many people who live in Florida are well aware that the Sunshine State has been at the center of a brutal wave of home foreclosures in recent years as a result of the national economic recession. While experts say that things are gradually getting better, many Floridians are still at risk of losing their homes. Florida cities accounted for eight of the top 20 foreclosure rates among metro areas nationwide in 2012. Foreclosures are filed on tens of thousands of homes throughout the state each month.
The potential of losing one's home to foreclosure is obviously a serious matter that should be addressed aggressively and proactively. An experienced attorney can provide vital assistance to an individual or family facing foreclosure by advising them of their rights and responsibilities, and working with banks and courts to ensure that all alternatives to losing the home are pursued.
At Cantwell & Goldman, P.A., our Brevard County foreclosure defense lawyers are well versed in the intricacies of the foreclosure process and dedicated to helping clients stay in their homes. Representing clients throughout the region, we offer high-quality, personalized legal services. We understand that potential foreclosure can be a trying and stressful situation and we stand by our clients through every step of the process.
A homeowner who purchases his or her house and underlying property via a mortgage loan may be subject to foreclosure if the borrower falls behind on monthly payments. The lending bank must go through the court system to initiate a foreclosure by filing a complaint, which typically comes after the bank has notified the borrower of default on the mortgage loan and the amount owed.
It is important for a homeowner threatened with foreclosure to understand that he or she has a number of rights and protections under the law in Florida. First and foremost, a lender must notify a borrower that it has initiated judicial foreclosure proceedings and is usually required to do so in person. The borrower must respond to this notice in a timely manner or risk a default judgment approving the foreclosure and ordering that the property be sold.
Because there is no redemption period following a foreclosure sale in Florida, it is virtually impossible to undo the sale once it happens. That's why it is imperative to consult an attorney as early in the process as possible. One of the best ways to avoid foreclosure is through a loan modification, in which the bank agrees to alter the payment terms so that the borrower avoids default and can stay in the home. In addition, there are a number of legal and other tools available for a homeowner who is currently making the required payments, but is concerned about missing future payments, either because the homeowner owes more than the house is worth or for any other reason.
Construction / Development Lawyer