Foreclosure Defense

Fort lauderdale Foreclosure defense lawyer

Foreclosure occurs when a person purchases a property, takes out a loan, and fails to make payments on the loan. In Florida, you generally have to be at least three months behind on mortgage payments before a lender can initiate any foreclosure action. Typically, they will initiate it at the bank level after three months when the bank gives it to the attorney, but the lawyer will usually wait for four months of non-payments before filing a foreclosure action. A foreclosure is a legal action by the lender to take possession of the property when you fail to make a mortgage payment.

There are many reasons why someone might fall behind on their mortgage payments. From severe injuries and lost income to divorce, many homeowners find themselves unable to keep up with the mortgage payments they originally agreed to pay. You may feel overwhelmed and frustrated, but our team at Khan Law, P.A. understands that life can change unexpectedly, and you shouldn’t have to lose your home because of it. We have years of experience helping Fort Lauderdale homeowners and will do everything in our power to help you reach your financial needs. 

When Does a Fort Lauderdale Foreclosure Occur?

When you’re behind on your mortgage payments, you have some time before a foreclosure can start. The federal law states in 12 C.F.R. § 1024.41 that a mortgage servicer can’t start the foreclosure until the homeowner is over 120 days behind on payments. However, the 120-day rule doesn’t apply in the following situations:

  • Homeowner violated a due-on-sale clause: A due-on-sale clause states that if a homeowner transfers his/her property to a new owner, the lender can accelerate the full loan balance. However, there are some circumstances where federal law restricts the enforcement of a due-on-sale clause.
  • Loan servicer joins a superior or subordinate lienholder: In cases where the loan servicers join the foreclosure action previously filed by a superior or subordinate lienholder, also known as senior lien holders and junior lienholders, the 120-day rule does not apply. 

In Florida, before filing a foreclosure the lender must first send the homeowner a breach letter if the homeowner falls behind on payments. It gives the owner notice that the lender can file a  foreclosure if they don’t pay. For a lender to file to foreclose, it needs to file a lawsuit in court. When it files the lawsuit and send you a summons, you generally have 20 days to file an answer with the court. 

4 Mistakes Homeowners Need to Avoid in a Fort Lauderdale Foreclosure Case

The possibility of foreclosure is frightening, and the seriousness of the situation can cause homeowners to make avoidable mistakes that can cost them their case. When you’re facing imminent foreclosure, talking with a dependable foreclosure attorney can help stop you from making common mistakes, including:

Immediately Giving Up

Florida handles all foreclosures through the court system, which gives you time to talk with your lawyer about how to negotiate with your lender to solve the situation. You may believe that you have no chance of fighting the case once the lender begins the foreclosure process. However, you may have a chance to work out an affordable option with the help of an experienced attorney. You have options such as negotiating a loan modification, and others to remain in your home. Don’t let these options slip by. 

Ignoring Notices

When you ignore attempts to discuss your payment problems with your lender, you eliminate options that your lender might offer. Ignoring notices from your lender is nonverbal communication that you are not interested and difficult to work with. While you may feel embarrassed about your situation, avoiding communication can cause you to face more challenges during the foreclosure process.

Not Consider Bankruptcy

Many homeowners have negative attitudes toward bankruptcy. But filing bankruptcy can become a layer of protection for your home and financial stability over time. In some cases, Chapter 13 of the United States’ Bankruptcy Code, allows you up to five years to catch up on your mortgage payments while still living in your home. If your life changes have made it challenging to afford your home, you may want to consider bankruptcy or other options. 

Handling Foreclosure Proceedings Alone

Going into most legal processes without an experienced lawyer can put your rights and interests at risk. However, foreclosure can significantly impact your life and abilities. Trying to handle everything on your own is dangerous and can potentially cause you to lose the chances you might have had if you were working with someone you trust. You can count on most Fort Lauderdale foreclosure defense attorneys, to keep you safe and work in your best interests. 

Without the knowledge and resources of a reliable foreclosure defense lawyer, you may unknowingly agree to terms that are not in your favor. The sooner you contact a knowledgeable attorney, the more time he/she will have to analyze your situation and create a detailed action plan.

Contact Khan Law, P.A. for an Experienced Foreclosure Defense Attorney in Fort Lauderdale, Florida

Our team at the Khan Law, P.A. understands how challenging the possibility of foreclosure can be and will do everything in our power to give your case the best possible outcome. With years of experience working within thousands of Fort Lauderdale foreclosure cases, we have an abundance of tools and resources to help you and your case. 

We are ready to stay by your side every step of the way. 

Call (786) 876-9604 or fill out our contact form for more information about our services and to schedule a free initial strategy session.