This document provides an in depth guideline for attorneys about the general residential mortgage foreclosure process. Included are links to local foreclosure rules in the state of Florida, sample complaint, service of process rules, notice of lis pendens, affidavits of indebtness, attorneys fees, judicial sale by the state of Florida, and bidding procedures.
GENERAL FORECLOSURE PROCEDURE, RPL FL-CLE 5-A-1
This document published by the Florida Bar is a very helpful tool for attorneys whose clients are facing foreclosure. It tells attorneys what documents they need to review in order to become familiar with the clients situation, how much to charge for legal fees, alternatives to foreclosure including paying the debt, and what needs to be filed once a foreclosure lawsuit commences.
The United States Department of Housing and Urban Developement is a very helpful web page which includes many tools consumers can read and use to help them handle and avoid a foreclosure.
USDA Loan Modifications
The Homestead Mediation Program is a local program that was created to help facilitate open communication between the borrower and the lender to determine if the foreclosure can be prevented through a loan modification of other mortgage workout option.
The link to Administrative Order which states that due to the substantial foreclosure case filings in the 20th Judicial Circuit a Court ordered mediation of a contested residential mortgage foreclosure action must first take place. The mediation will allow parties to come to a compromise before going through with a foreclosure which has many negative impacts on our community. The least amount of resources may also be used before overburdening the already burdened court system.
The Florida Supreme Court issued Administrative Order 09-54, which mandates mediation in homestead residential mortgage foreclosures. In re Final Report & Recommendations on Residential Mortgage Foreclosure Cases, 2009 WL 5227471 (Fla. 2009).
Florida's Attorney General, Pam Bondi, outline tips for consumers on ways to avoid mortgage foreclosure including contacting your lender when you default on a payment. Contacting your lender can be very helpful because they can work with you and reconstruct a payment plain that fits your needs. Next, gather information about Florida foreclosure laws, your mortgage rights and review your loan documents to determine what your lender can do if you default on payments. Local foreclosure prevention seminars may also be available in your area. This link also provides contact information for consumers to nonprofit housing counselors who can help you with foreclosure issues at no cost. Certain relevant terms are also described as well as other alternatives to foreclosure. Pam Bondi also warns consumers about companies who offer to stop foreclosure immediately if you sign a piece of paper that transfers title to these companies. This is a scam and will result in losing all the equity in your home to the "rescuer".
First month missed payment – your lender will contact you by letter or phone. A housing counselor can help.
Second month missed payment – your lender is likely to begin calling you to discuss why you have not made your payments. It is important that you take their phone calls. Talk to your lender and explain your situation and what you are trying to do to resolve it. At this time, you still may be able to make one payment to prevent yourself from falling three months behind.
Third month missed payment after the third payment is missed, you will receive a letter from your lender stating the amount you are delinquent, and that you have 30 days to bring your mortgage current. This is called a "Demand Letter" or "Notice to Accelerate." If you do not pay the specified amount or make some type of arrangements by the given date, the lender may begin foreclosure proceedings. They are unlikely to accept less than the total due without arrangements being made if you receive this letter. You still have time to work something out with your lender.
Redemption Period – after the sale date, you may enter a redemption period. You will be notified of your time frame on the same notice that your state uses for your Sheriff's or Public Trustee's Sale.
This Collier County website lists every foreclosure judgment and foreclosure sale in Collier County.
This article is helpful for people who want to understand what a foreclosure is in layman terms, what caused the foreclosure crisis in Florida followed by possible solutions.
Kevin F. Jursinski, The Mortgage Foreclosure Crisis in Florida: A 21st Century Solution, Fla. B.J., June 2010, at 91
Bloomberg Law’s Lee Pacchia talks with Bloomberg News bankruptcy columnist and editor-at-large Bill Rochelle about this week’s bankruptcy news and legal developments regarding a major decision on foreclosures, Borders Group Inc. and the prospects for family restaurant operators.
Lien of Seller; Enforcement; Foreclosure
Section 190- 216 pg 268
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