Law Offices of Splittler, Read and associates, P.A.

Avoiding Foreclosure:
What We Can Do For You

What we are able to help you with:

  • The knowledge to make good  decisions.
  • More time to explore all loss mitigation & alternatives.  
  • More time to negotiate a lower payment or interest
  • More time to save money to reinstate your mortgage
  • More time to refinance your loan
  • More time to sell your home for fair price or short-sale
  • More time to review possible bankruptcy

What happens in Foreclosure:

  • Florida is a judicial Foreclosure state, which means suit must be filed in order to foreclose.
  • The lender will file a law suit and seek to force the sale.
  • The proceeds of the sale will go  to the lender to pay all amounts
  • If there are no bids, the lender will take title to the property or home, and will attempt to sell the property.

Important time frames:

  • Day 1- Complaint-Filed and served
  • Day 20- Your Answer to the Complaint is due- If you fail to answer you be defaulted for not responding in writing to the Complaint
     NOTE: It is essential  that you act before the Court enters a default. Do not ignore the Complaint.
  • Days 90-120- Judgment Hearing-Judge will grant the lender a Foreclosure judgment and set a sale date
  • Days 120-150- Foreclosure Sale and Eviction-The property will be sold to the highest bidder at a public auction.
    NOTE: A Bankruptcy must be filed prior to the Foreclosure sale, property will be lost forever!!

What do I do if I fall behind on my mortgage?, Don't ignore the problem. It will only make the problem worse. The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house. Prioritize your spending. After healthcare, keeping your house should be your first priority.


What options do I have if I end up in Foreclosure?
Here is a list of all of you  possible options. You need a professional to make the best choice. Call us before you are forced to make the choice which may hot be the best!

  • Do Nothing
  • Contact attorney-Stop Foreclosure
  • Reinstatement Plan
  • Repayment Plan
  • Loan Modification/Loan Restructuring
  • Loan Refinance
  • Loan Forbearance
  • Assumption
  • Partial Claim
  • Pre-Foreclosure Sales
  • Short Sales
  • Bankruptcy

If I do nothing, what will happen?
A default judgment will be entered, and the court can auction your property, usually within 25 to 30 days from entry of a final judgment. This is what you want to Avoid!


What if I file bankruptcy?
A bankruptcy will stop the Foreclosure. A chapter 13 bankruptcy may allow you to make up the arrearages and reinstate your mortgage, over a period of time, usually 5 years. It means you make a regular payment and part payment each month until you get caught up. In a chapter 7, you will have to pay back the arrearages much quicker than 5 years, the Foreclosure will continue.


What can an experienced and knowledgeable Lawyer do
?

When applicable:

  • File an answer containing affirmative defenses, if any.
  • File Motion to Quash Services and process
  • File Motion to dismiss lawsuit
  • File Motion to dismiss complaint
  • File answer and affirmative defenses, and counterclaim against the lender/plaintiff.
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