The lender cannot simply take your home from you in a foreclosure when they believe that you are in default on your mortgage. Foreclosure is a judicial process that must go through the court system in Florida. Only a judge can issue a court order that allows the lender to foreclose on your own. Before a judge can do so, you are entitled to due process, and you have the opportunity to present your own defenses. Further, you may engage with the lender before the point of foreclosure to reach a solution that may allow you to keep your home.
Contact our trusted Florida foreclosure lawyer at Consumer Law Attorneys to defend against a potential foreclosure case.
Negotiate with the Lender
Your lender may not have the actual desire to foreclose upon your home, even if you have fallen behind on your mortgage payments. They could be facing a loss if they have to sell the property in a weak real estate market. Accordingly, you may be able to negotiate with the lender to reach an alternative solution. Your lender could offer you additional time to pay, or they may be willing to modify the terms of your loan. Of course, your lender may not be amenable to a solution, but you never know the answer unless you ask the question. They could be more likely to listen when they are approached by an experienced foreclosure defense attorney who knows your legal rights.
Seek Forbearance From the Lender
Forbearance is another way of obtaining some flexibility from your lender. You may be likely to qualify for forbearance when you are experiencing some type of shorter-term financial hardship, such as a medical challenge or job loss. Here, you would represent that you are able to resume payments at some point in the future, and you would pay the money that you owe in arrears. The lender may not be under an obligation to grant you forbearance, but it could be in their interests to work with you.
As part of forbearance, your lender may agree to a repayment plan. This plan would allow you to commit to catching up on the mortgage payments that you missed due to financial hardship. However, if you fail to make payments pursuant to the plan, the lender may proceed to foreclosure.
Declare Bankruptcy
When you declare any type of bankruptcy, an automatic stay goes into effect. Any creditor of yours cannot take any type of action to collect on and enforce a debt that you owe. The automatic stay applies to every type of credit that you have, including money that you owe on your mortgage. Accordingly, the lender cannot take any action to evict you, so long as you are in the midst of the bankruptcy process. Filing for bankruptcy can at least buy you more time to get current on your mortgage payments if you have the ability to do so.
It is important to remember that your mortgage debt is not discharged at the conclusion of bankruptcy. Only non-secured debts are subject to discharge in both Chapter 7 and Chapter 13 bankruptcies. At the conclusion of bankruptcy, you may have the ability to reaffirm your mortgage and keep your home. However, remaining in default on your mortgage could lead to foreclosure after the bankruptcy process is complete.
Fight the Foreclosure in Court
Since you are legally entitled to due process, you can come up with defenses that could potentially stop the foreclosure action against you. Remember that the judge must allow the foreclosure before it can happen. Working with a foreclosure defense attorney, you can present reasons why the lender has erred and is violating your rights.
Defenses to foreclosure can include the following:
- Failure to Follow Procedures: Florida law specifies a number of procedures that the lender must follow exactly before they can foreclose. If they fail to follow any of the requirements, the foreclosure could be invalid.
- Failure to Follow Terms of Your Loan: The lender must follow the terms of the mortgage contract in terms of the timeframes and your ability to cure any default. The failure to do so is both breach and contract and could invalidate the foreclosure.
- Unconscionable Loan Terms: The lender may have lent you money based on terms that violate the law. For example, they may have failed to disclose key terms of the loan, or they have lent you money at an unconscionable interest rate.
- Failure to Allow for Mediation: Although the lender does not have to allow for a mortgage modification, they must offer you mediation in an attempt to resolve any differences. They may not be able to foreclose until this occurs.
- Improper Loan Servicing Practices: There are numerous federal laws that dictate how a lender can service your loan. The violation of any one of them may mean that the lender cannot foreclose.
You may not know about your legal rights if you do not hire a foreclosure defense attorney. Not only can your lawyer help you learn of any possible defenses, but they can also present your story in court should you choose to fight the foreclosure. Although responding in court with a foreclosure attorney is not a guarantee of success, you have little chance of keeping your home if you do not take these steps. We can at least ensure that your story is told before a judge makes the final decision.
Contact a Florida Foreclosure Defense Lawyer Today
The experienced foreclosure defense lawyers at Consumer Law Attorneys help homeowners who are having difficulties with their lenders. We can conduct a review of every aspect of your case in an attempt to learn of lender misconduct that can stop your foreclosure, but only if you take the steps to fight back.
You can schedule a free initial consultation with a foreclosure defense lawyer by filling out an online contact form or by calling us today at (877) 241-2200. Take strong legal action today with the help of our foreclosure defense lawyers.
