Those of us that may not have been well versed in the meaning of foreclosure are now more aware than ever of its meaning. Due to the present economy spiraling downward at a record pace, many homes have been foreclosed, leaving many families without a place to live.
If your house is being foreclosed upon then you should have a good attorney versed in real estate procedures to help you save your home. The time to find a knowledgeable and responsible attorney to help you is when you are having trouble meeting the mortgage payments, not when you are notified of the foreclosure. The attorney may be able to save your house by reconstructing the mortgage and its payments.
At the present time Florida law says that the bank or mortgage company can foreclose on a piece of property only after they file a foreclosure suit and the Judge grants it. Florida now has about five million foreclosures that are pending and is considered the worst state for foreclosures in the United States. There is a House Bill (1523) pending that would do away with the court procedure and the property would be foreclosed upon in ninety days. This Bill would put families out on the street quicker than through the channels requiring a court procedure.
If you are a home owner in the Tampa area you need to have a good family law lawyer versed in real estate to save you from any impending foreclosure disaster, should that happen. It's important to get a free consultation with a diligent law firm in order to see if you are a candidate for a possible foreclosure. The possibility exists if you have missed a mortgage payment or two, or if you have recently become one of many that lost a job. The saying is that "to be prepared is to be forearmed." Don't wait until the papers are served and then expect to be bailed out. The time to look for help is before the problem rears its ugly head.