South Florida Foreclosure Defense Attorneys
Helping Clients Fight Foreclosure from Our Offices in Pompano Beach & Miami
On April 2, 2020, in response to the COVID-19 pandemic, Governor Ron DeSantis issued a moratorium on all mortgage foreclosures. Despite the ongoing economic impact of the pandemic, on October 1, 2020, this moratorium expired. The governor’s decision to let Executive Order 20-211 expire without an extension has thrown many families into crisis mode. You may be worried about losing your home or your business. You don’t have to go through this on your own.
Now more than ever, Bilu Law believes everyone deserves strong advocacy when facing challenging circumstances like foreclosure and eviction. Since 2004, we have helped clients across the Pompano Beach and Miami areas defend their rights and even save their homes. As a firm, we are responsive and provide services in both English and Spanish. When you need someone on your side, call us.
Bilu Law is there when you need us most. Speak with one of our foreclosure defense lawyers today for legal help in Pompano Beach or Miami. Call (954) 239-7386 or connect with us online.
What to Do if You Are Facing Foreclosure
When dealing with a foreclosure, you want to be very careful. This is a complicated process, and there are a lot of moving parts. Additionally, there are many scammers out there pretending to be U.S. Department of Housing and Urban Development foreclosure counselors (also known as HUD-approved counselors).
To avoid being taken advantage of, turn to our professional foreclosure defense attorneys, conveniently located in Pompano Beach and Miami. Bilu Law has the foreclosure avoidance resources you are looking for.
Understanding the Basic Foreclosure Timeline
- Day 1 - You are just falling behind and you miss your first mortgage payment by a day. No penalties will be assessed at this time
- Day 16-30 - A late charge is now assessed to your payment. Your lender or mortgage servicer will contact you for an explanation and to try and resolve the situation from deteriorating further.
- Day 45-60 - The servicer sends a "demand" or "breach" letter to the borrower stating the mortgage terms that have been. The borrower is given only 30 days to resolve the delinquent amount.
- Day 90-105 - The servicer refers the loan to its loss mitigation department/foreclosure department and retains an attorney or other firm to handle the foreclosure proceedings. Depending on where the home is located, the servicer's representative may record a notice of default at the local courthouse. This notice of foreclosure will be published in the local newspaper.
- Day 150-415 - A notice of Trustee Sale is filed, and the home is scheduled to be sold at foreclosure sale or auction. This time range varies due to individual state laws and requirements.
This timeline can be extended in states where a foreclosure is managed by the court system, also known as judicial foreclosure.
How to Stop a Foreclosure
Foreclosure is just a lawsuit brought by the lender to take back your home. Just like the lender, you have powerful right, which include forcing the lender to prove their case. Lenders are required to prove more than you are just behind on your mortgage.
Due to the lender's actions, omissions, or other facts surrounding your case, you may be able to stop making mortgage payments and stay in your home while your attorney vigorously defends your property. This does not necessarily mean that you will not have to pay the loan back or completely stop foreclosure.
Lenders must take specific steps to prove their right to foreclose. The lender needs to not only prove that you owe them the money, they need to show how they calculated the amount due, and that they actually own the mortgage. If the lender cannot prove their case, foreclosure proceedings will cease.
It is also possible to completely stop foreclosure if the bank or lender is in violation of the Florida Unfair Lending Act or other predatory lending practices. If the lender has committed such a violation, the entire principal and interest balance may be waived, and the mortgage may be voided.
At the very least, a successful defense can buy you precious time to:
- Stay in your home
- Negotiate a mortgage loan modification with the bank
- Negotiate a short sale agreement
- Sell your home for a fair price
- Refinance your home at a fair rate
- Continue to collect rent on the property
- Apply for a court ordered repayment plan
- File a Chapter 13 or Chapter 7 Bankruptcy
When homeowners are faced with the reality of facing a potential foreclosure, many simply don't know what to do. Selling the home may not be an option because the equity appears to have vanished. However, it is possible to fight foreclosure and get the results you need, and our lawyers can help you do just that.
What Happens When the Bank Files the Foreclosure?
Most people don't know that once the foreclosure proceeding has started, the bank will not accept any future mortgage payments. This is because doing so may adversely affect their ability to foreclose on your property. Once the bank files a foreclosure lawsuit, most of the homeowner's expenses are being paid by the bank. Furthermore, the bank pays any delinquent real estate taxes and the insurance on the property.
However, as the legal owner of the house with full possession, you have all the rights associated with the same including residing in your home, collecting rents on the property, etc.
Is the Foreclosure Process the Same in Every State?
The foreclosure process varies in every state and it's imperative that homeowners understand this process. An educated consumer is always an informed consumer who can make a good decision based on facts.
Our attorneys will offer educational resources on foreclosure law throughout this website. We can go over the details of your case as it results to state and federal law in a consultation.
Does the CDC Eviction Order Apply to Homeowners?
On September 4, 2020, the Centers for Disease Control and Prevention (CDC) issued a temporary moratorium on evictions through the end of the year. This was done as a measure to slow the continued spread of COVID-19. However, this order specifically deals with residential renters and lessees, not homeowners or commercial property owners. In fact, the CDC order defines “evict” and “eviction” as specifically not inclusive of home mortgage foreclosures.
Get the Foreclosure Surplus Funds You Are Owed
When a foreclosed property is sold, the sale is often for more than the stated value in the Final Judgment of Foreclosure. This creates a surplus of funds. As property values continue to increase in South Florida, when the COVID-19 moratorium on foreclosure sales is lifted, foreclosure surpluses will likely continue to be a common occurrence. As the homeowner, you may have a right to some, if not all, of these surplus funds. However, a specific legal process must be completed before the funds are released to homeowners.
First, the funds must be used to pay any junior lienholders. A junior lienholder is any financial institution that holds a second mortgage or home equity loan related to your property. In Florida, they have one year to file a claim with the court. Only after these claims are cleared will you be able to collect any remaining funds. Do not let anyone deny you the surplus funds you are entitled to. When you need legal guidance, turn to Bilu Law.
Why Hire an Attorney to Fight Foreclosure?
You may wonder how you can afford to hire an attorney if you can’t pay your mortgage, especially if you’re way behind on payments and have serious financial issues.
Everyone can and should hire an attorney to represent them in their foreclosure case. There are many competent attorneys who specialize in this area. Most foreclosure cases are very similar, and many excellent attorneys have staff with experience in these matters. Many law firms can also offer extremely affordable payment arrangements.
The cost of qualified legal representation is a drop in the bucket compared to your typical homeownership overhead. Time is money and the real estate and financial markets are likely to turn around. The hiring of the right attorney will save you thousands of actual dollars, in addition to thousands in time value of money.
Bilu Law provides fast-acting legal services that are compassionate and tailored to our clients’ specific needs. We know how difficult the foreclosure process can be. Our firm works hard to provide our clients with strong, supportive legal representation to help them feel more confident and self-assured when making important legal decisions.
Our law firm has over 15 years of experience handling foreclosure cases in South Florida. To learn how we can help you, contact us at (954) 239-7386 or schedule a free consultation online.
Made us feel comfortable & set our minds at ease!- John
Very professional and treated me with the utmost respect.- Carola
I would 100% recommend!- Paul
An attorney of the highest caliber.
I would recommend him to anyone looking for an honest, trustworthy attorney” - David
Exception expertise & service.- Jewel