Foreclosure Defense Attorneys in South Florida
Helping Clients Fight Foreclosure from Our Offices in Pompano Beach & Miami
A foreclosure sale involves the sale of real estate at public auction. The proceeds of the sale are then applied against the debt owed on the mortgage. Any funds remaining after the mortgage (and the foreclosure costs) are transferred to the defaulting borrower.
Most people do not realize that they can stop foreclosure even if they stopped paying their mortgage. Many recent foreclosure cases have been filed improperly. An experienced foreclosure lawyer like ours at Bilu Law can assist with the identification and filing of substantive and procedural defenses with the court. We can work with you to vigorously defend your case and help you save your home.
How to Stop a Foreclosure
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.
It is 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.
- 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.
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.
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.
Should You Hire an Attorney?
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.
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.
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
Almost as soon as soon as you fall behind on your mortgage payments, you may begin to feel the specter of foreclosure begin to lurk around your home. While you may not have immediate worries for the first two weeks after going past-due, things start to become more serious at that point and can cause you to lose your home in less than a year.
With help from Bilu Law and our foreclosure defense attorneys in South Florida, you may be able to successfully counter or preclude your lender’s attempts to claim your property through foreclosure. We have helped many clients like you successfully defense against foreclosure actions taken by various lenders. By working directly with you, we’ll be able to build a personalized legal strategy that can help you avoid or mitigate the impact of foreclosure.