Florida now leads the nation in home foreclosure rate for the third month in a row in December. Florida’s rate is more than double the national rate, and this report confirms that Florida continues to struggle to recover from the recent housing crisis. Though indicators suggest that the housing market is improving, foreclosure still appears to be a significant problem in Florida and is continuing to increase in number.
Foreclosure is the process by which a lender attempts to recover the unpaid balance of a loan after the borrower discontinues payments. Foreclosure allows the lender to force a sale of the home in order to satisfy the remaining balance of the loan.
In Florida, if you have received a foreclosure summons complaint, you have 20 days to answer in order to avoid a default judgment being issued against you. Once your home is threatened by foreclosure, it is important to seek legal advice and explore what options may be available.
Some valid defenses to foreclosure may include:
- Ownership. Mortgages are sold every day. The bank suing must prove that the original mortgage was properly sold, transferred or assigned and that they are the rightful owner of the original note.
- Lack of Written Notice. Proper written notice of a default and a 30-day opportunity to cure before filing a foreclosure lawsuit must be received by the homeowner.
- Incorrect amount owed. Banks routinely miscalculate the amounts owed on a note and mortgage.
If you are facing foreclosure, it is important to consult a real estate attorney who can offer you peace of mind that your potential foreclosure is being defended by an accountable professional.
Foreclosure continues to be a growing problem in Florida, and if it happens to you, the worst thing to do is ignore it. Call Blick Law Firm today @ 813-931-0840. Schedule an appointment for a free 15 minute consultation with Attorney Michael Blickensderfer to see what your legal rights are in defending a foreclosure action.