If you have worries about meeting your mortgage payments or have been served foreclosure papers, knowing how the foreclosure process works should be top priority. The foreclosure process is usually initiated by mortgage companies within 3 to 6 months after you first miss a mortgage payment. The whole process may move more quickly if you are already in default, so make sure that you obtain appropriate legal advice.
Once a foreclosure lawsuit has been filed, you have 20 days to respond to the Summons and Complaint. The lender may move for a default if you don’t provide a response within the allocated period. A hearing will be held for summary final judgment based on the lender’s motion.
Once a foreclosure lawsuit has been filed, you have 20 days to respond to the Summons and Complaint. The lender may move for a default if you don’t provide a response within the allocated period. A hearing will be held for summary final judgment based on the lender’s motion.
If judgment is granted during the hearing, the sale date for the home will then be established. Otherwise, a trial will be set. The legal complexities of the whole process may be overwhelming, but it is critical that you don’t consider being served with a foreclosure lawsuit as the end of the line.
A licensed local attorney can help you understand the foreclosure process in Florida and shed light on your rights and legal options. Being served with foreclosure does not have to lead to financial ruin. Your foreclosure defense lawyer can help you determine the best approach for you and your loved ones.
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