Florida Foreclosures - How To Handle Court Proceedings

If you live in Florida and are facing the possibility of having your home foreclosed

, you are probably trying to find out as much about it as you can. Foreclosures are carried out through court proceedings. The entire process begins when you fall at least 30 days behind on your mortgage payments, though you can usually go 90 days without the courts becoming involved. The lender of your mortgage files a notice with the courts. If you are under the impression your lender may have done so, you will know for sure when you receive a notification in the mail. Do not ignore this important warning as if it were junk mail. You must respond to it within the period of time indicated on the notice.

If you fail to respond to your foreclosure notice in the given time allotment, the court will rule against you. This means the court can assign a sale of your home which includes the total amount still owed to the mortgage holder. Under Florida foreclosure law, you can still save your home at this point all the way up to the scheduled date for the sale of the home by acquiring enough funds to repay the lender everything you owe.

To give you an idea of how much time you have to get the necessary funds to pay your lender back, the scheduled date for the sale of a foreclosed home is usually between 20 and 35 days following the court's decision. The originally set date is always subject to change based on the court's calendar, locality and conflicting schedule times of the auction itself. Notices are kept up-to-date weekly for at least two weeks and the official date and time is announced five days preceding the auction. This way, even though times and dates may change throughout the proceedings, you have a clear knowledge of the exact date five days in advance.

If this is the point you are at right now with your Florida foreclosure, it is not too late! You can still get your home back by making your account current once again. Remember, this will probably include the payment of late fees and other charges your account may have built up in the time you were delinquent in your payments. You can learn exactly how to go about stopping foreclosure even in these late stages by meeting with a financial and foreclosure expert. Be sure to choose a reputable source.

by: Troy Truman

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