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Is It Ever Too Late to Stop Foreclosure?

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As a judicial state for foreclosures, Florida foreclosure law requires that a bank or mortgage servicer must receive approval from a judge prior to foreclosing on a home.

 

Because of this, as well as other factors in a foreclosure, the foreclosure process itself can be a long one; however, this is good news for homeowners who are fighting to keep their property. It means you have time to mount a strong defense and take action to the stop the foreclosure – no matter how far you are into the process.

 

Foreclosure defense strategies

 

Defending your rights to keep your home takes hard work and means putting up a fight, but you have options to use in your defense.

 

While some strategies are better used earlier in the foreclosure process, you still have options even up until just before the home is to be sold at auction.

 

Chapter 13 and the Automatic Stay

 

One of those last-minute strategies is filing for bankruptcy. After filing for bankruptcy, an “automatic stay” goes into effect. What this does is put an immediate halt on any foreclosure activity. It prohibits the bank from continuing to pursue foreclosure activities or trying to collect any debts.

 

The automatic stay has the effect of postponing any potential sale of your home for at least several months, even if your creditor were to successfully bring a motion to lift the stay (which they will undoubtedly try to do).

 

Filing for bankruptcy may also lead to more options for you as a homeowner to retain ownership of your property. You can read about some of those options here.

 

We recognize that there are no easy options when it comes to foreclosure, but at Jacobs Legal, it is our priority to ensure that your rights are protected and that you have the best foreclosure defense so that you can retain what is yours. If you’re struggling with debt, call us today at 305-358-7991 for legal representation in your foreclosure defense.

 

 

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