How Will I Know When a Foreclosure Has Started?
If you are behind on your mortgage payments, there is a high likelihood that your lender will initiate foreclosure proceedings against you. In order to properly defend against a foreclosure action, you will want to know as soon as the foreclosure process has begun.
Once you are about 90 days past due on your mortgage payments, you should start receiving notices from your lender. These notices are often called “default letters” or “breach letters.” These letters should contain language stating that you have defaulted on your mortgage payments. They may further inform you of the amount past due, a date by which the default must be cured, and that failure to cure the default by the specified date may result in foreclosure of the property.
Generally, these letters are sent in order to discuss options for repayment, such as a loan modification or alternate payment plan. Often times reaching out to your lender after receiving such a letter is a good opportunity to explore your options before a foreclosure is initiated.
If these notices go unanswered, your lender will more than likely file their foreclosure action. The action should be filed in the county where the property is located. Once the action is filed, you will be notified in one of two ways. You may find out a foreclosure action has been filed by receiving letters from law firms in the area who can help to defend your rights. Alternatively, the court system will send a process server, likely to your home, to serve you with a copy of the complaint and summons in your case.
The complaint will explain the basis of your lenders right to foreclose. Once you are served, you have twenty (20) days to file a response to the complaint. If you do not respond timely, your lender will be entitled to a default judgment against you.
For more information on the foreclosure process in Florida, or to determine your rights and defenses to a foreclosure action, consider consulting with an experienced foreclosure attorney.
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