How to Stop an HOA or Mortgage Foreclosure in Florida

High student loans, housing costs, and medical expenses have caused many Americans to struggle financially. Luckily, there are options to help alleviate the burden and get a fresh start. Many of the options available to consumers will even stop a foreclosure sale and allow you to keep the home. If you are considering relief through bankruptcy or facing the possibility of foreclosure, it is important to speak with an experienced bankruptcy attorney to determine the best course action for you. To schedule a free consultation with a bankruptcy attorney in Tampa call us at 800 990 7763.

Typically, if a homeowner is behind on their mortgage payment for 90 days the lender will file for foreclosure in Court. Florida is a judicial foreclosure state, that means the bank must go to court and receive approval from a judge before foreclosing on a home located in Florida. See Florida Statute 702.01. The court process can move quickly if action is not taken to prevent the foreclosure. If foreclosure proceedings have begun, contact a foreclosure defense attorney right away. There may be legal defenses that can be used to prevent the foreclosure of your home. Additionally, there may be other options available, such as deed in lieu of foreclosure, loan modification, or short sale. For more information about each of these options contact a foreclosure defense lawyer in your area.

Banks are not the only institutions that seek to foreclose on homes in Florida. Thousands of foreclosure cases are filed by homeowner’s associations in Florida each year. HOA’s are very aggressive in filing for foreclosure, in many cases seeking foreclosure when the homeowner is only a few dollars behind on their assessments. Further, it is not uncommon to have a balance of only $100 increase to over $5,000 after the HOA adds their late fees, interest, and attorney fees. Fortunately, there are options that can help prevent a foreclosure by the HOA.

Similar to banks, the HOA will need to file a foreclosure case in court and receive approval from a judge before the home is foreclosed. See Florida Statute 720.3085. During the court process, the homeowner will have an opportunity to raise defenses and challenge the foreclosure. To learn more about the possible legal defenses to foreclosure by an HOA contact a foreclosure defense lawyer in your area.

Additionally, filing for Chapter 13 bankruptcy can help stop a foreclosure filed by either an HOA or mortgage lender. A Chapter 13 bankruptcy filing could allow you to avoid foreclosure all together by working out a repayment plan over a span of three to five (3-5) years for the arrearage, otherwise known as back-due payments.  Essentially, the homeowner will have a 60-month loan to repay the back-due HOA fees. In mortgage foreclosure cases, the homeowner may be able to modify the loan to reduce the balance, lower the interest rate, and extend the term for repayment. For more information about a specific case or payment plan contact a bankruptcy lawyer to schedule a consultation.

Bankruptcy and Foreclosure Defense Law Firm:
If you are thinking about filing for bankruptcy or are being threatened with foreclosure contact Florida Law Advisers, P.A. Our bankruptcy attorneys in Tampa are experienced in both bankruptcy and foreclosure defense. Every foreclosure and bankruptcy case is different, and our vast experience allows us to cater our services to each client’s individual needs. All of our initial consultations are free and convenient payment plans are always available. Regardless, if you need help with Chapter 13, Chapter 7, or foreclosure defense our professional legal team will provide you with competent legal advice you can trust. Call us now at 800 990 7763 to speak with a lawyer, we are available to answer your calls 24/7.

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