Stop Foreclosure Florida Mortgage Lenders 

Stop Foreclosure Florida Mortgage Lenders 

• Refinance Florida Lis Pendens – Refinance Florida Claim of lien – Refinance To Pay Florida Tax Lien –
• Refinance Florida Code Violations – Refinance Florida Final Judgment – Buy-Out-Florida Mortgage Refinance

Hard Money Stop Foreclosure Qualifications: 

You may qualify for a Hard Money Foreclosure Bailout loan under these circumstances

• You can prove your Florida home is Non-Owner Occupied – utility bills from another address.
• You recovered from your situation, and you can make your payments.
• You owe 50% less than your home or property is worth

The quickest way To Stop Foreclosure In Florida contact your Florida mortgage lender as soon as you fall behind and start a repayment plan. Florida Mortgage Lenders’ number one goal is to stop foreclosure. Florida mortgage servicers can discuss options with you to help you work out repayment plans during difficult, tough financial times. Florida mortgage lenders prefer to have you keep your home so they can keep your mortgage in service.  Be straightforward with your Florida mortgage lender about your financial circumstances so that you can have a realistic discussion regarding your options. You can find the Florida mortgage lenders’ phone number on your monthly mortgage statement or coupon book.

Tips To Stop Foreclosure In Florida 

Are you having trouble keeping up with your mortgage payments in Florida? Have you received a notice from your lender asking you to contact them?

• Don’t ignore the letters from your lender
• Contact your Florida lender immediately to quickly stop foreclosure.

If you are unable to make your monthly mortgage payment, don’t ignore the problem. Work with your mortgage lender directly until you can get back on track. If you can prove your ability to make the payments, chances are that you have repayment options. 

1. Don’t ignore your Florida Mortgage Lender.

The further behind you become, the harder it will be to reinstate or modify your mortgage and the more likely that you will lose your house.

2. Contact your Florida mortgage lender as soon as you realize that you have a problem.

Florida mortgage lenders DO NOT want your house. They have options to help borrowers through difficult financial times.

3. Open and respond to all mail from your Florida mortgage lender.

The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notices of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.

4. Know your mortgage rights.

Find your loan documents and read them so you know what your lender may do if you can’t make your payments. Learn about the foreclosure laws and timeframes in your state (as every state is different) by contacting the State Government Housing Office.

5. Understand foreclosure prevention options.

Valuable information about foreclosure prevention (also called loss mitigation) options can be found online.

6. Contact a HUD-approved housing counselor.

The U.S. Department of Housing and Urban Development (HUD) funds free or very low-cost housing counseling nationwide. Housing counselors can help you understand the law and your options, organize your finances and represent you in negotiations with your lender, if you need this assistance. Find a HUD-approved housing counselor near you 

7. Prioritize spending.

After healthcare, keeping your house should be your Number 1 priority. Review your income and expenses and see where you can cut spending. Look at canceling all unnecessary expenses that include eating out,  cable TV, memberships, and entertainment that you can eliminate. Contact your credit cards to delay payments and other “unsecured” debt until you’re caught up on your mortgage payments.

8. Use your assets.

Do you have assets–a second car, jewelry, a whole life insurance policy–that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don’t significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.

9. Avoid foreclosure prevention companies.

You don’t need to pay fees for foreclosure prevention help–use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three months’ mortgage payment) for information and services your lender or a HUD-approved housing counselor will provide free if you contact them.

10. Don’t lose your house to foreclosure recovery scams!

If any firm claims they can stop your foreclosure immediately and if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a trusted real estate professional or a HUD-approved housing counselor.

Few people think they will lose their home; they think they have more time.

Here’s how it happens. Note: Timeline varies by state.

• 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. A housing counselor can help.
• 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. A housing counselor can still help.
• Fourth month missed payment – now you are nearing the end of time allowed in your Demand or Notice to Accelerate Letter. When the 30 days ends, if you have not paid the full amount or worked our arrangements you will be referred to your lender’s attorneys. You will incur all attorney fees as part of your delinquency. A housing counselor can still help you.
• Sheriff’s or Public Trustee’s Sale – the attorney will schedule a Sale. This is the actual day of foreclosure. You may be notified of the date by mail, a notice is taped to your door, and the sale may be advertised in a local paper. The time between the Demand or Notice to Accelerate Letter and the actual Sale varies by state. In some states it can be as quick as 2-3 months. This is not the move-out date, but the end is near. You have until the date of sale to make arrangements with your lender, or pay the total amount owed, including attorney fees.
• 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.

Important: Stay in contact with your lender, and get assistance as early as possible. All dates are estimated and vary according to your state and your mortgage company.

Understand your rights.

Learn all that you can about your Florida mortgage rights and foreclosure laws. Review your loan documents to determine what your Flroida mortgage  lender or servicer may do if you can’t make your payments. Review Florida laws, particularly Florida Statutes Chapter 702 to learn about foreclosure proceedings.

Contact a non-profit housing counselor.

Help and information are available to you free of cost. The HOPE NOW alliance provides a 24-hour hotline to provide mortgage counseling assistance in multiple languages. Reach this hotline by dialing, 1-888-995-HOPE. You may also obtain a list of U.S. Department of Housing and Urban Development (HUD) certified counselors in Florida here.

Understand the relevant terms.

If you are working with your mortgage servicer or an approved housing counselor to keep your home, there are several options:

• Reinstatement: Your servicer may agree to let you pay the total amount you are behind, in a lump sum payment and by a specific date. This is often combined with forbearance when you can show that funds from a bonus, tax refund or other source will become available at a specific time in the future. Be aware that there may be late fees and other costs associated with a reinstatement plan.
• Forbearance: Your servicer may offer a temporary reduction or suspension of your mortgage payments while you get back on your feet. Forbearance is often combined with a reinstatement or a repayment plan to pay off the missed or reduced mortgage payments. Please be aware that some forbearance plans require that you immediately pay back the missed payments in a lump sum at the end of the plan.
• Repayment Plan: This is an agreement that gives you a fixed amount of time to repay the amount you are behind by combining a portion of what is past due with your regular monthly payment. At the end of the repayment period you have gradually paid back the amount of your mortgage that was delinquent.
• Loan Modification: This is a written agreement between you and your mortgage servicer that permanently changes one or more of the original terms of your note to make the payments more affordable.

If you and your servicer agree that you cannot keep your home, there may still be options to avoid foreclosure:

• Short Payoff: If you can sell your house but the sale proceeds are less than the total amount you owe on your mortgage, your mortgage servicer may agree to a short payoff and write off the portion of your mortgage that exceeds the net proceeds from the sale.
• Deed-in-Lieu of Foreclosure: A deed-in-lieu of foreclosure is a cancellation of your mortgage if you voluntarily transfer title of your property to your mortgage servicer. Usually you must try to sell your home for its fair market value for at least 90 days before a mortgage company will consider this option. A deed-in-lieu of foreclosure may not be an option if there are other liens on the property, such as second mortgages, judgments from creditors or tax liens.
• Assumption: An assumption permits a qualified buyer to take over your mortgage debt and make the mortgage payments, even if the mortgage is non-assumable. As a result, you may be able to sell your property and avoid foreclosure.
• Refinancing: While refinancing is not necessarily a good option when facing foreclosure and can sometimes even be a predatory practice, there are instances where it may help. Talk to your servicer to see if refinancing is an option for you.

Carefully examine your finances.

Can you cut spending on optional expenses or delay payments on credit cards or other unsecured debt until you have paid your mortgage? Do you have assets that you could sell to help reinstate your loan? Can anyone in the household get a second job to help with income? These efforts to manage your finances may help you find income to apply to your outstanding payments and will demonstrate to your servicer that you are willing to work on your finances and make sacrifices in order to keep your home.

Do not fall victim to a foreclosure recovery scam.

If any business or individual offers to help you stop foreclosure immediately by signing a document authorizing them to act on your behalf or to set up financing, do not sign without consulting a professional (an attorney or HUD-approved counselor). This may be a trick to get you to sign over title to your home. You are then vulnerable to losing your home and all of your equity in your home to the so-called “rescuer.”

The Consumer Financial Protection Bureau also provides useful information in avoiding scams. You can access the CFPB’s website on how to avoid foreclosure rescue scams here.

Avoid for-profit foreclosure prevention or loss mitigation companies.

If you fall behind in your mortgage payments, many for-profit companies will contact you promising to help you avoid foreclosure. Some may even appear to be affiliated with your lender or servicer. It is best to avoid dealing with these companies. Most will charge you a hefty fee up front for information that your servicer or a HUD-approved counselor will provide for free. You can obtain the same plan or a better plan for free by contacting your servicer or a HUD-approved counselor. Use your money to pay the mortgage instead.

Should you require outside resources to avoid foreclosure, seek out a licensed mortgage broker or an attorney. You can verify a mortgage broker’s license on the Office of Financial Regulation’s website. A “rescue firm” or mortgage broker may never charge you up front. They may only charge you after you receive and accept a written offer for a loan or refinance contract.

Seek additional information.

Information regarding mortgage and foreclosure issues from the following resources may prove helpful during this time:

• CFPB on mortgages
• Making Home Affordable
• Federal Trade Commission (FTC) on homes and mortgages
• The Florida Office of Financial Regulation on loan modifications