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The above video explains why foreclosures in Orlando can take over a year to process, from start to finish. The biggest variable in any foreclosure timeline is whether or not an attorney has been hired to defend the foreclosure.
New Florida foreclosure laws are now in effect that may expedite the timeline for foreclosures in certain cases. This is all the more reason why it is important to hire a qualified Orlando foreclosure lawyer as soon as possible to stop the foreclosure from happening.
Speak with an experienced Florida attorney at our firm today.
Call 855-Kramer-Now (855-572-6376).
The following outline describes how the foreclosure process plays out if you do not actively defend your case or work out a loan modification with the bank.
Overview of Florida Foreclosure
- Notice of default. The foreclosure process is set in motion when a bank sees that a borrower is more than three payments behind on their mortgage. Before they can sue for foreclosure, the bank has to send out a “Notice of Default” to the borrower and give them a chance to respond.
- Bank Sues. If you do not respond to the Notice of Default, or if you dispute the default, the bank will follow up by filing a lawsuit against you which basically says, “Pay your mortgage in full or lose the house.” The lender files a Complaint and a “Lis Pendens” (which means, “litigation pending”) at the county courthouse, declaring publicly that you are in default of your mortgage and that there is a foreclosure pending.
In the Complaint, the lender must show that:
– the contract with you is legally binding,
– the lender lawfully executed its end of the contract,
– you breached the contract, and
– this breach has caused the lender to suffer damages.
- Borrower responds / does not respond. At this point the foreclosure can take a number of directions especially if defended by an experienced foreclosure attorney.The borrower will typically have 20 days to respond to the lawsuit against them. It is important that you respond because it will give you a chance to hire an attorney who can defend you during a hearing or help you work out a loan modification. It can also help delay the foreclosure proceedings.
- Hearing decision. The homeowner must show cause that the foreclosure judgment should not be entered. The homeowner may also defend the lawsuit by filing appropriate motions, answers and other actions.
- Auction scheduled. If you cannot successfully defend your case, or if you do not show up to the hearing, the judge may decide to put your house up for auction. They will set a foreclosure sale date, which for Orlando foreclosures is typically 30–45 days after the hearing. A foreclosure attorney may still be able to delay the auction at this point.
- Sale of home. The last step of the foreclosure process is holding the auction, when the house is sold to the highest bidder and the original homeowner is evicted from the property.
New Laws Affect Foreclosures in Orlando
As of June 2013, the laws affecting the foreclosure process in Florida have changed that are intended to speed up the timeline by shortening the default time. Banks may use an accelerated procedure to fast-track the foreclosure process in cases where there is no valid defense or cases that are undisputed.
The new law affects the landscape of Florida foreclosures in such a way that it is more important than ever for homeowners facing foreclosure to work with an experienced foreclosure defense lawyer as soon as possible.
Under the new statute, homeowners have 20 days to respond to an order to show cause. This means the burden is placed on Florida homeowners to prove whether or not the bank is justified to foreclose. Previously, the burden of proof was placed on the banks to justify foreclosure actions. Once the order to foreclose is entered, the sale can occur within 30 days.
The window of time is reduced for many homeowners to raise a defense against Florida foreclosures. The worst thing to do is do nothing. Get aggressive, experienced legal help when you contact TK Law. Our attorneys deal with foreclosures in and around Orlando every day and we are ready to move swiftly to defend your foreclosure case.
Get Help with Legal Issues Now! - Call 855-Kramer-Now (855-572-6376)
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