Foreclosure Process Overview

As a former bank attorney, Ms. Valdes handled hundreds of foreclosure cases throughout the State of Florida, and especially in Broward, Miami-Dade, and Palm Beach counties. Using this experience, Ms. Valdes is able to identify the best way for you to fight against foreclosure. There is no “one size fits all” solution, and every case demands a detailed review of your loan documents, the value of your property, your financial situation, and your personal goals. If you are facing foreclosure, it is highly recommended that you hire an attorney. Contact Valdes Law Firm, P.A. online or by calling (954) 764-7878 to schedule your free consultation today. Hablamos español.

The Foreclosure Timeline

When you fall behind on your mortgage payments for an extended period of time, your bank or mortgage servicer will send you a breach letter, which is often referred to as a “Notice of Default” or “Notice of Acceleration.” In this breach letter or notice, the bank or mortgage servicer makes a demand that you pay the entire mortgage balance and gives the bank the right to file an action to collect the entire balance of the mortgage after the cure period, which is typically 30 days. Once the cure period has expired, the bank will move quickly to file its complaint for foreclosure and record a “lis pendens” on your property. The lis pendens provides notice in the public records that you have failed to meet your obligations under the mortgage contract and the bank is suing you for the rights to your property.

Once you have been served with a foreclosure lawsuit, you must act quickly. From the time you are served, you only have 20 days to respond to the lawsuit and raise any legal defenses you may have. If you wait too long, you can severely damage your legal rights. It is not advisable to defend a foreclosure action on your own, and we recommend hiring an attorney immediately if you wish to defend against the foreclosure action. If you are beyond the twenty day response deadline, there may still be defenses that can be raised and you should still contact an attorney to defend you. The worst thing you can do is allow the foreclosure to proceed without legal representation, as you risk losing your property in a very short period of time. Defend against foreclosure and contact Valdes Law Firm, P.A. online or by calling (954) 764-7878 to schedule your free consultation today.

Once you have retained an attorney, the most critical step to a successful foreclosure defense is to have your loan documents carefully evaluated. There have been countless cases, especially in South Florida, in which the lender failed to have all of the necessary documentation and may even have attempted to use fraudulent documents to bring a foreclosure action. At Valdes Law Firm, P.A., we know all of the potential options as well as their benefits and risks, and we will advise you of the strategy we recommend to best suit your individual situation.

Once the Complaint has been responded to, the bank may file a Motion for Summary Judgment. In order to prevail at the summary judgment stage, the bank must produce evidence to the court, such as the mortgage, note, the assignment of mortgage, the allonge to the note, and any supporting affidavits, in support of its foreclosure action. Summary Judgment motions can be difficult to beat, and, unless you are represented by a knowledgeable attorney, you are unlikely to defeat the bank. If you have been served with a motion for summary judgment, it is highly advisable that you contact a foreclosure defense attorney immediately. If the bank’s Motion for Summary Judgment is granted, a foreclosure sale of your property will be scheduled. The sale date is often times 30 days from the date the summary judgment is granted.

If the bank’s case is going to fall apart and if there’s any chance of obtaining a dismissal of the foreclosure action, it will usually be at the summary judgment stage. However, you need an attorney who is knowledgeable and experienced in foreclosure actions to help you get through this stage of the foreclosure proceedings.

Valdes Law Firm, P.A. has the knowledge and resources to fight your mortgage company, and Ms. Valdes will provide you with a free initial consultation to discuss your options. Contact us online or by calling (954) 764-7878 to schedule your free consultation today to find out how we can assist you if you are facing foreclosure. Hablamos español.