Foreclosure FAQs
What should I do if I have received legal paperwork regarding a foreclosure?
What are my options in foreclosure if I have stopped making payments or am behind in payments?
Do I need a foreclosure defense lawyer?
How do I choose a foreclosure attorney?
Why try to defend against my foreclosure if I can’t afford the payments?
Does it matter where my property is located?
What is a short sale?
Why are they willing to sell for less than what is owed?
Why did my mortgage lender send my payment back to me?
How much time do I have before the foreclosure process begins?
What if I am behind on other bills, including car loans and credit cards?
What is a deficiency judgment?
Several companies have recently contacted me to offer help, how are you different?
Can I seek help for an adjustable rate mortgage (ARM) that is going to reset to an amount I cannot afford?
My bank won’t negotiate and just wants its money. Can a Florida foreclosure attorney help?
How long does the foreclosure process take?
Can I remain in my home during the foreclosure process?
Should I file for bankruptcy if I am facing foreclosure?
Is a short sale a good option?
Do you offer payment plans?
Do you accept credit cards?
What should I do if I have received legal paperwork regarding a foreclosure?
Unfortunately, Florida homeowners often fail to act quickly enough after receiving paperwork notifying them of a foreclosure action. Homeowners have just 20 days to file a legal response. Contacting an experienced foreclosure lawyer as early as possible can often have a positive impact on your case.
What are my options in foreclosure if I have stopped making payments or am behind in payments?
A Florida foreclosure defense attorney can still assist homeowners who are behind or have stopped making payments. Fighting a foreclosure action can provide homeowners with time to:
- Reside in your home without having to pay mortgage.
- Potential ability to continue collecting rent or other income on the property.
- Negotiate a mortgage modification with your lender
- Qualify for the federal government’s home-loan modification program.
- Negotiate a resolution with your lender.
- Sell your home at market value.
- Negotiate a short-sale with lender.
- Refinance your home at a better rate.
- File for Chapter 7 or Chapter 13 bankruptcy protection.
Do I need a foreclosure defense lawyer?
As in any other legal proceeding, you have a right to represent yourself. However, just as you would likely hire a criminal lawyer or a lawyer for other legal proceedings, such as a divorce, a foreclosure defense attorney has the professional knowledge and experience to look after your best interests. Just as banks and lenders have attorneys looking after their best interests, homeowners facing a Florida foreclosure action should consult a Florida foreclosure defense attorney who can advise them on the best course of action for their particular situation.
How do I choose a foreclosure attorney?
You should never hire a foreclosure lawyer based solely on advertising. At the Law Offices of Charles L. Neustein, more than 95% of our foreclosure cases and foreclosure referrals are from other satisfied clients. References are available upon request.
Why try to defend against my foreclosure if I can’t afford the payments?
It is a misconception that hiring a attorney to defend your case is not a cost-effective option. Hiring an experienced lawyer can help protect your rights and save you thousands of dollars in taxes and other financial consequences.
Does it matter where my property is located?
Yes. We currently are defending cases throughout the state of Florida, primarily in Southeast Florida, including:
- Miami-Dade County
- Broward County
- Palm Beach County
- Southwest Florida
- Central Florida (Orlando, Lee County, Flagler County), Northern Florida (Jacksonville, Tallahassee, Panama, Pensacola, Destin).
What is a short sale?
A short sale occurs when and if a mortgage lender agrees to accept less than what is owed on a mortgage in an effort to avoid a possible foreclosure auction or a bankruptcy filing. The seller buys the home directly from the bank for the discounted amount and the homeowner walks away. A Florida attorney experienced in representing clients in short sales and foreclosures should be consulted about tax implications of short sales as well as other possible financial ramifications.
Why are they willing to sell for less than what is owed?
Banks may agree to a short sale to get a bad loan off the books or because a foreclosure and auction could bring even less than the proceeds of a short sale.
Why did my mortgage lender send my payment back to me?
Banks and lenders will often refuse to accept payment for less than the total amount your account is delinquent (including late, collection & legal fees). Once a foreclosure action is started, banks will generally not accept payment for less than the total amount delinquent, including foreclosure costs and foreclosure legal fees. If your bank has refused to accept a mortgage payment, contact a Florida foreclosure defense lawyer right away to discuss your rights.
How much time do I have before the foreclosure process begins?
Foreclosure time vary according to your geographical area. What was once a 3-6 month process from missed payment to foreclosure is now often 12 to 24 months because of court dockets overwhelmed with thousands of Florida foreclosure suits. However, legal time limits still apply and contacting a Florida foreclosure defense attorney right away can be a critical step to protecting your rights as a Florida homeowner.
What if I am behind on other bills, including car loans and credit cards?
Dealing with a foreclosure takes priority. And our Florida foreclosure defense lawyers will fight to keep you in your home during the legal process. We may also be able to help with unsecured debt, such as credit cards and medical bills. Filing for Florida bankruptcy under the federal bankruptcy laws can also be an option for some clients. Consulting an experienced and qualified attorney is the best first step toward regaining your financial freedom and independence.
What is a deficiency judgment?
A deficiency judgment can be filed against a homeowner by a lender who does not recover the amount owed on a loan, plus legal and collection expenses, after a foreclosure.
Several companies have recently contacted me to offer help, how are you different?
Our attorneys have more than 70 years of combined experience working with homeowners, lenders and the mortgage industry. Debt counseling firms are often scams and firms offering foreclosure consultations for $100 do not begin to protect your rights. Additionally, many attorneys charge high fees and are not very knowledgeable or experienced in Florida foreclosure law. Our staff will work with you to determine the best course of action for your particular financial situation.
Can I seek help for an adjustable rate mortgage (ARM) that is going to reset to an amount I cannot afford?
If you are facing an adjustable rate mortgage, consulting an experienced Florida foreclosure attorney at this early stage can provide comprehensive defense before a foreclosure action is ever filed. Unfortunately, most lenders require a foreclosure action before they will attempt to modify a loan – sometimes forcing a homeowner to stop making payments in order to receive help. Contacting a qualified Florida foreclosure lawyer can help protect your rights as a homeowner, as well as your credit rating and the financial well-being of you and your family.
My bank won’t negotiate and just wants its money. Can a Florida foreclosure attorney help?
Yes. An experienced Florida foreclosure defense lawyer can often cut through the hassle and incompetence of a loan servicer and reach a loan officer with the power to modify your loan or make other concessions to avoid the foreclosure process.
How long does the foreclosure process take?
Traditionally, foreclosures in Florida have taken 4-6 months. However, since the real estate bust began in early 2007, courts have been awash in thousands of mortgage cases and the foreclosure process in Florida now takes 12 to 24 months.
Can I remain in my home during the foreclosure process?
Typically, yes. The home remains in your possession until a final foreclosure judgment is issued by a judge.
Should I file for bankruptcy if I am facing foreclosure?
Bankruptcy will at least temporarily halt foreclosure actions and is an option you can discuss with your Florida foreclosure attorney. In certain situations, it is possible to keep your home following bankruptcy.
Is a short sale a good option?
Short sales are an option for some homeowners. However, negotiating a short sale with your lender can be as difficult as negotiating loan modifications. Short sales can also have negative tax implications. Increasingly, homeowners who bought during the height of the market and/or did not make a substantial down payment, are finding that the gap between a property’s market value, and what a bank will realistically accept, has grown too wide to find a buyer.
Do you offer payment plans?
Yes. We understand the situation Florida homeowners face and pride ourselves on working with each client. WE offer extremely affordable payment plans to home owners and investors who need an attorney to represent them in a Florida foreclosure case.
Do you accept credit cards?
Yes, we proudly accept All major credit cards.
