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JEMORTGAGE
347 Posts |
 Posted - 05/18/2008 : 09:17:08 AM
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i have a client who called me up today and they havent made a payment sice nov!!! how are they still in their home? wouldnt the bank have kicked them out by now??
they dont even have a courtdate yet..they have been told by thier friends that some of them have been living payment free since last aug?? whats going on here?? can these people do this and get away with it |
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JEMORTGAGE
347 Posts |
Posted - 05/18/2008 : 1:01:58 PM
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| bump anyone know how foreclosures are working now? |
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katroberts
1255 Posts |
Posted - 05/18/2008 : 1:31:21 PM
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I am very familiar with Florida foreclosure processes. I've seen what you describe happen a lot.
Lis pendens to foreclosure sale in Florida can be 3 months or longer. Complaint filed and served upon the Defendant after the Lis Pendens is filed. Defendant has 20 days to answer the complaint. If an Answer is not filed, a Default is entered. The Court sets the case immediately for Summary Judgement. When the Court enters the Judgment of foreclosure, the sale date is in that Judgment. The sale is published in a local newspaper under the Florida Statute guidelines for publications. In Florida, usually, the sale date is 30 days from Judgment date. This is the process in Florida.
I would not suggest giving legal advice to your client. This is the timeframe for a normal foreclosure in Florida. All parties that have liens on title will be named in the suit and served with the Complaint and have the requisite amount of time to respond to the Complaint.
I have seen many, many cases in which people were virtually "mortgage free" for a year or more before the bank filed the foreclosure.
You can read all about foreclosure procedures in the Florida Statutes.
http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=Ch0702/titl0702.htm&StatuteYear=2007&Title=%2D%3E2007%2D%3EChapter%20702
Chapter 702 of F.S.
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JEMORTGAGE
347 Posts |
Posted - 05/18/2008 : 1:47:03 PM
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| so once they have lis pendings, can they still extend date for foreclosure once they have a court date?? |
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katroberts
1255 Posts |
Posted - 05/18/2008 : 2:10:28 PM
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It is up to the Plaintiff's attorney. Once a suit is filed, all correspondence, calls, and the like go to the Plaintiff's attorney, whose name, address, and phone number is on the Complaint filed in the Court file.
The client can also track the foreclosure via the Clerk of Court website for the particular county in which the suit was filed. The appropriate clerk of court can be found via this site:
http://dlis.dos.state.fl.us/fgils/coclerks.html
Your client can try to work with the lender to see if the lender will put a stay on the suit, but, in Florida, the large law firms that handle foreclosures are typically very aggressive. If your client calls the lender, the lender may or may not work with him or her. The lender may tell your client to discuss the situation with its attorney.
If your client has any defenses to the foreclosure, an Answer to the foreclosure Complaint must be filed. Otherwise, the Judgment will be entered based upon default. It is suggested that your client retain counsel if he or she is going to try to prevent a foreclosure Judgment from being entered and/or the sale from being consummated.
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katroberts
1255 Posts |
Posted - 05/18/2008 : 2:12:22 PM
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I really would not be giving this information to your client. It could be construed as legal advice.
If something goes wrong and the foreclosure sale takes place, you don't want the client coming back on you.
In these situations, I refer out to an attorney.
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JEMORTGAGE
347 Posts |
Posted - 05/18/2008 : 2:53:49 PM
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| I UNDERSTAND THANK YOU...MY CLIENT IS ATTEMPTING EITHER A SHORT SALE OR LOAN MOD BUT WHEN WE SPEAK WITH THE LENDERS ATTORNEY THEY SAY THAT ONLY THE LENDER CAN PUT A STOP ON FORECLSOURE NOT THEM....I FOUND OUT WE HAVE A COURT DATE FOR THEM IN LATE JULY, BUT I DONT THIK THAT THAT WOULD BE ENOUGH TIME TO SELL OR DO LOAN MOD, WHAT CAN I DO TO EXTEND THE TIME FRAME THEY HAVE, I'M SURE THE BANK DOESNT WANT TO FORECLOSE...PROPERTY IS ALSO IN BROWARD COUNTY(FORECLOSURE HELL!!) |
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katroberts
1255 Posts |
Posted - 05/18/2008 : 4:22:31 PM
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I'm sorry, but I am out of suggested options other than the ones mentioned above, e.g. refer them to an attorney. I don't get involved in loan modification work, as I believe attorneys should be involved in that or those that have access to attorneys for the giving of legal advice to clients.
Tell them to go to the yellow pages and pick out an attorney. If they have not been paying their mortgage payments, they may have some cash with which to retain an attorney.
Otherwise, they should communicate with their lender if the attorney for the lender is telling them to do that.
I would not suggest messing around with clients and trying to stall foreclosures in Florida. It will come back to bite you. Once a sale happens in Florida, there is no right of rescission. A sale is final once the sale happens. Further, after 10 days from the date of the entry of the Certificate of Sale, a Certificate of Title is issued. This is why I am saying to refer them to an attorney. If you want to help try a loan modification, work it with an attorney that can give them legal advice.
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katroberts
1255 Posts |
Posted - 05/18/2008 : 4:25:37 PM
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Here:
James B. Boone
Law Firm serving Sunrise, Florida
Location
101 N.E. Third Avenue, Suite 1500
Fort Lauderdale, Florida 33301
(Broward Co.)
Contact Information
Phone: 954-462-4004
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JEMORTGAGE
347 Posts |
Posted - 05/19/2008 : 07:29:00 AM
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| BUMP |
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JEMORTGAGE
347 Posts |
Posted - 05/20/2008 : 09:04:29 AM
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| its just amazing to me how someone can live in their home for over 7 months with no payments and havent gotte kicked out yet...how long can this last?? |
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