Help with Defending Against Foreclosure
Foreclosure is common in Florida. In fact, this state has one of the highest rates of foreclosure in the nation, with nearly one in five homes throughout Florida currently in foreclosure. If you are facing the threat of losing your home to foreclosure, the most important thing to know is that you do have rights in the situation and there are many options available for you to turn the case around. The one thing you must do to maximize your chances of a successful outcome is to contact The Law Offices of Justin McMurray, P.A. for a free consultation with a Gainesville foreclosure defense attorney from our firm. We have more than a decade of experience and can fight for you!
Strategies for Preventing Home Foreclosure
Success in fighting a foreclosure depends on taking action as early as possible in the foreclosure process. By taking the initiative before the bank has filed a foreclosure lawsuit against you in court, you may be able to avoid the action entirely by negotiating a deed in lieu, a short sale or perhaps even a loan modification which would allow you to keep the home with a more affordable mortgage payment. Even if the case has proceeded to the point where you have been served with a complaint and summons, however, it is still possible to contest the action.
Under the 20-day rule, you cannot afford any delay in filing an answer to the bank’s lawsuit against you. We can review the situation to find the most effective strategy for challenging their case, and will represent you against the bank in court. Depending on the circumstances, your response to the lawsuit may be based on allegations that the bank engaged in predatory lending or committed a truth-in-lending violation, or perhaps it might involve disputing the contention that you are in default. Because banks will often chop mortgages up and bundle them with others in order to sell mortgage backed securities, it may even be possible to beat the case by demonstrating that the plaintiff simply does not have sufficient documentation to prove that it owns the mortgage and has a lien on your property.
Bankruptcy Can Stop Foreclosure
A last-ditch strategy for halting foreclosure is to declare bankruptcy, since as soon as you file your petition with the court you will be protected from adverse creditor action by an automatic stay. Bankruptcy will not get rid of your mortgage debt, but it will free up other income so that you can more easily afford your monthly payment, and if you use Chapter 13 you may even be able to include your missed payments in the three- or five-year plan of repayment.