Buying a house or condo can be exciting. You put time and money into making it a home. Then, your finances take a hit. Hiring an Orlando foreclosure defense lawyer might be necessary if you cannot make your mortgage payments and stay caught up.
Keeping your home and protecting your rights requires dependable legal assistance. Florida Law Advisers, P.A., can represent you during the complicated foreclosure process. You need trustworthy legal representation to confront your financial struggles or pending foreclosure and pursue the best outcome.
What Are the Florida Foreclosure Laws?
The foreclosure process in Florida is judicial, which means the lender must get court approval before proceeding with a foreclosure sale. Typically, a foreclosure cannot officially begin until a borrower is more than 120 days late on their mortgage payments.
How Long Is the Foreclosure Process?
Depending on multiple factors, the foreclosure process can take a few months to a year. If you object to foreclosure, it can extend the process. An Orlando foreclosure defense attorney can review your case and explain the timeline.
What Is an Emergency Bankruptcy Filing to Stop Foreclosure?
An emergency bankruptcy filing allows a debtor to immediately stop a creditor from collecting on a debt. Because completing and filing all the necessary paperwork for a formal bankruptcy can take several days, an emergency bankruptcy filing allows a debtor at risk of losing their home to obtain the protection of an automatic stay quickly. However, additional documentation must be provided promptly after the emergency bankruptcy filing; otherwise, the bankruptcy petition might be dismissed.
Contact an Orlando foreclosure lawyer immediately if you believe you must file an emergency bankruptcy to stop foreclosure.
How Long Will Chapter 13 Delay Foreclosure?
You can file Chapter 13 bankruptcy to stop foreclosure indefinitely. It is beneficial because it lets you remain in your home while creating a plan to restructure and repay your debts. You and the creditor must agree to a specific repayment plan for three to five years. By choosing this option, you get more time to pay what you owe without the foreclosure process going any further.
People who file for Chapter 13 typically pay less than their total debt. You can settle with the creditor for a lower amount and make smaller monthly payments you can afford. Chapter 13 bankruptcy can also eliminate other unsecured debts to wipe the slate clean so you can rebuild your financial standing.
Can You Stop a Foreclosure Once It Starts?
Yes. Multiple options are available to delay or stop the Florida foreclosure process. You should consult a foreclosure defense lawyer to determine which suits your needs.