When establishing mortgage agreements or pursuing judicial foreclosures, loan servicers across the United States must follow strict standards and federal foreclosure laws. When acquiring a home in Florida, the majority of borrowers sign promissory notes and mortgage agreements. These are legally binding papers that confer contractual rights on homeowners in addition to numerous state and federal requirements. Foreclosure lawsuits in Florida must be filed in the circuit court where the property is located, according to state law.
To Avoid Foreclosure, Pay Off the Home Loan or Make Missing Mortgage Payments
Depending on the terms of your loan, you may be able to revive it prior to a foreclosure sale. You can also "redeem" the property by paying off the entire loan amount by the time specified on the foreclosure judgement or when the clerk files the certificate of sale, whichever comes first.
Providing Unclean Hands
To establish unclean hands, the homeowner must demonstrate a dishonest or illegal transaction. Alternatively, demonstrate the mortgage company's unjust, unconscious, or abusive behavior about the loan. Furthermore, for a defense of dirty hands, the homeowner must demonstrate a disadvantage to them via the lender. Improper behavior alone is not enough; there must also be evidence of harm. Furthermore, the conduct in question must be related to the failure to make mortgage payments.
Can Bankruptcy Stop a Florida Foreclosure?
Yes, bankruptcy can prevent foreclosure in Florida, but it's critical to grasp the distinction between Chapter 7 and Chapter 13 bankruptcy. Because the 3 or 5 year payment plan permits you to catch up on the home's arrearage, Chapter 13 bankruptcy is a common strategy to stop a foreclosure in Florida. If a lender is pursuing foreclosure, they will be ordered to cease, giving you time to get your finances in order.
A Chapter 7 bankruptcy in Florida is a liquidation bankruptcy, so unless you want the Florida bankruptcy trustee to sell your home, this choice may be less popular. So, even though Chapter 7 bankruptcy is frequently the least expensive choice because the trustee pays to sell your home, you may not want to pursue it in Florida. The difficulty with a Chapter 13 bankruptcy is determining how much your Chapter 13 plan payment will be and if it would offer you with enough relief. For example, if you owe $120,000 on your house and enter a 5 year / 60 month Chapter 13 repayment plan, will you be able to afford the extra $2,000 per month required to catch up on the arrears?
As a result, we created a free Florida Chapter 13 bankruptcy calculator based on the official bankruptcy papers to provide an estimated monthly all-in payment, including mortgage arrears, attorney fees, and filing fees. The calculator also allows you to email your information to an attorney in your county in Florida for a free phone consultation.
Filing for bankruptcy prevents lenders from continuing collection activities or the foreclosure process. Depending on the conditions, you may be able to postpone the foreclosure long enough to catch up on payments or create a long-term repayment plan to keep the property safe. For further information, make a contact with one of our expert Foreclosure Defense Lawyer in Florida. A lawyer can guide you thoroughly according to your specific situation.
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