Mortgage Foreclosure Defense

If you are behind on your mortgage payments and facing foreclosure, it is important to seek competent legal advice as to what options are available to you.  Foreclosure can happen to anyone and it is a very serious situation that can result in the loss of your home, long-term credit damage and ongoing financial liabilities to your lender.  Fortunately, the attorneys at Palma Law Group, P.A. can assist you in defending against foreclosure as well as work with your lender to negotiate available options.  In many instances we can negotiate with your lender to develop a plan that will allow you to save your home.

The facts of your particular case may warrant a motion to dismiss the foreclosure action if the lender cannot properly establish that they have true ownership of the mortgage. In addition, some cases may be settled through a reinstatement of the mortgage or possibly a modification of your existing loan to significantly reduce your monthly mortgage payments so as to allow you to get back on track.  It is important to understand that every foreclosure case presents a unique set of facts and circumstances and it is imperative to know and understand the legal rights and options available to your case.

The attorneys at Palma Law Group, P.A. serve Mortgage Foreclosure clients exclusively in the Tampa Bay Area and are based in Clearwater, Florida.  By focusing on only the Tampa Bay Area, we are able to provide a highly personalized level of service that simply wouldn’t be possible on a larger scale.

We will be happy to provide you with a FREE CONSULTATION, by phone or in our office, so that we can discuss the particular facts of your case and explain your rights and options.

The Foreclosure Process

In Florida Foreclosures are carried out in the Circuit Court in the jurisdiction in which the property is located.  If a lender becomes aware that the homeowner is behind on their mortgage payment, also referred to as being in default, the lender has the right to file a lawsuit against the homeowner.
Florida Statutes do not require the lender to notify the homeowner of the Mortgage Foreclosure prior to the filing date of the foreclosure action. However, many mortgage agreements do have a notice requirement built in to the terms of the mortgage. Once the action is filed and the Complaint is verified by the Court and states a valid cause of action, the homeowner is put on notice of the Complaint through service of process, and will then be required to file a timely answer to the allegations contained in the Complaint. If the homeowner responds and contests the foreclosure it may take an extended period. If the homeowner does not respond, the court will enter judgment against the homeowner and the property for a sale date via auction.

Equitable Right of Redemption

Before the sale of the property, the homeowner may redeem the property by paying the lender the outstanding loan balance in addition to any and all applicable attorney fees and costs incurred by the lender as a result of the Mortgage Foreclosure. If there is no redemption, a sale of the property proceeds with public notice being issued by the Court and the property is sold. Once sold, if the sale proceeds do not cover the outstanding debt owed to the bank on the mortgage, the borrower can be held liable for the deficiency and the lender may file suit to have the court enter a deficiency judgment against the borrower.

Alternatives to Foreclosure

The good news is that you may have options and alternatives to foreclosure available that can keep you in your home. It is recommended these alternatives be investigated through the advice of  competent legal counsel. Most options can be negotiated before a Mortgage Foreclosure is filed or even during the foreclosure proceedings. Some of the available options include:

  • Reinstatement of the original Mortgage
  • Refinance
  • Loan  Modification
  • Short Sale of the Property
  • Deed in Lieu of Foreclosure