How do I Stop the Foreclosure Process without Filing Chapter 13?

Due to the fact that the foreclosure process in Florida is typically non-judicial in nature, a lender can implement the foreclosure proceedings, meaning your home can be sold on the steps of your local courthouse in a matter of a few weeks. And they won’t even have to take the matter to court in order to do this. Whether or not you were aware of this, your mortgage contract contains specific language which gives your lender a limited power of attorney which enables them to foreclose on you and sell your home out from under you.

The Florida foreclosure process normally begins when you receive a written default notice. Missing one payment relegates you to “delinquent” status. In most circumstances, a lender or mortgage company will allow you to miss 2 or 3 monthly payments before issuing that default notice. Just keep in mind that in the state of Florida, you could lose your home within 37 days because that lender can legally issue a default notice even if you are 24 hours late on your payment.

If you have become delinquent and do not have the funds to either clear up your delinquency or pay the mortgage off, the lender or mortgage company will use the foreclosure process to take the title to your home and property from you in order to sell it and recoup some of their losses. The worst thing you can do is procrastinate and not contact an attorney to assist you in the matter and stop you from losing your home.

You have to remember that once the foreclosure process has begun, the proceedings become more difficult to stop. Occasionally, a lender or mortgage company may stop these proceedings if you have communicated with them up to that point and if some very specific conditions are met. However, in prior cases like this, Clark & Washington knows that lenders and mortgage companies make hammering out a different payment arrangement extremely difficult.

We are not trying to discourage you and tell you that it is impossible to stop the foreclosure process by negotiating with your lender. However, you must not let any time pass, and by all means, never assume that a deal will be reached between you and your lender. You just need to be aware of the importance of speaking an attorney to help you with alternatives to filing an emergency Chapter 13, provided there are some applicable ones that are available.