Many homeowners in this country have or will face foreclosure. In Florida approximately 1 in every 630 homes is in foreclosure. Often when homeowners fall behind in payments the lender will not accept payments. Many people are not aware that the if they are attempting a loan modification with the lender that this does not stop or stall foreclosure proceedings from continuing.
The initial filing of a foreclosure is a document called a Lis Pendens which is a Latin term translated to “suit pending”. This document is filed with the Clerk of the Circuit court in the County where the home is located. This puts all parties on notice that a lawsuit is pending and creates a lien on the property. The bank will have its attorney file this document and the initial Foreclosure Complaint. Once the Complaint and Summons are served you have 20 days to file an Answer. If you fail to do so the lender will move forward with the foreclosure process.
As a homeowner you have many options including hiring an attorney to defend the underlying lawsuit. Undefended foreclosures often result in processing the lawsuit through the legal system. If you have been served with a foreclosure complaint call us immediately. We are here to help you look at the options available to you including foreclosure defense. We offer affordable monthly payment plans and are here to help you.