At Ivanov and Wolf we are proud of the work we do to keep families in their homes. We know you have a lot of questions regarding the foreclosure process in Florida. We hope to answer a few of these questions below.
When do I have to leave my house?
If you were served with foreclosure papers, do not worry. You do not have to leave your house immediately. Florida is a judicial foreclosure state. This means that the bank has to go to Court and prove its case in order to foreclose. This may take months, or even years to complete.
I was just served, what do I do?
First, do not panic. Read everything you receive carefully. Typically, you are provided 20 days to file any documents with the court once you are served. The 20 day timeline gives you an opportunity to review the case and speak to a lawyer about your options.
What is a loan modification?
A loan modification is an agreement between you and your lender wherein the lender agrees to modify the terms of your loan. Loan modifications can be tricky. Often time they are negotiated through the loan servicer and not the actual lender. You must generally fill out an application for a modification and submit a substantial amount of paperwork to the lender to qualify for the loan modification. If you are seeking a loan modification, it is always bets to speak to a lawyer due to the complexities in the application and to assist in negotiating the terms.
Will I have to go to court?
As Florida is a judicial foreclosure state, you will have to appear in court during your foreclosure case. All hearings scheduled with the court should be coordinate with you to ensure you are available. If a hearing gets set and you are unable to appear, be sure to make the court aware of this. If you hire an attorney, you often times do not have to appear in court; your attorney can do that for you.