FLORIDA FORECLOSURE PROCESSThe foreclosure crisis is extremely serious and widespread in Florida as 24% of all home loans are in some stage of foreclosure or more than 90 days past due. With the total number of house foreclosures nationwide exceeding three million homes at the end of 2010, an incredible 458,286 were in Florida.What has further worsened the problems for Florida and the housing market overall has been the inability of the courts to handle the huge volume of foreclosure filings. A lack of sufficient court funding combined with overly aggressive and often illegal tactics by many lenders and the law firms hired by those lenders have contributed to the jam which shows no signs of abating in the foreseeable future. As a result, the courts have a current backlog of more than 350,000 pending Florida home foreclosure cases. Because of the huge number of residents involved in the Florida foreclosure process and requiring Florida foreclosure information, HelpWithForeclosuresQuestions.Com has made it a priority to provide honest and objective information about the Florida foreclosure process and Florida foreclosure laws to help homeowners who otherwise have no resources to help stop Florida foreclosures. Broward County Foreclosures
Florida Judicial Sale MethodFlorida home foreclosures are conducted under the "judicial sale" method discussed elsewhere on our site. What this means is that all Florida foreclosure lawsuits and Florida foreclosure sales are done through the court system and subject to the Florida foreclosure process and Florida foreclosure laws. With a current backlog exceeding 350,000 cases, be prepared for a long and sometimes arduous journey but use the time to build your savings and develop a long term plan to avoid foreclosures.Florida foreclosure lawsuits follow the same general pattern outlined earlier in our "Foreclosure Phases" section requiring initial notice of default and opportunity to cure the default before suit can be filed, followed by the foreclosure lawsuit itself in the second phase and all of your post-trial foreclosure options to help stop Florida foreclosure sales in the final stage of the Florida foreclosure process. Although the Florida state government has done very little to help homeowners involved in the foreclosure process, there are two federally funded programs specifically designed to help Florida residents avoid foreclosure. More Information on "State of Florida Stop Foreclosure Programs" Florida Foreclosure LawsuitsIf you are unable to resolve the past due dispute with your lender or you've decided on a preemptive strategic default to put you in a better position for a loan modification or short sale, a Florida foreclosure lawsuit will eventually follow. However, before the lawsuit can proceed the lender and homeowner must attend mandatory Foreclosure Mediation in an effort to settle the case without trial.More Information on "Florida Foreclosure Mediation"
Although there has been a significant reduction in the number of Florida foreclosure lawsuits in the first half of 2011 compared with the same period one year earlier, the decline is not because there are fewer defaults overall. Instead, issues related to defective and often illegal documents and court filings prepared by lenders and their representatives have forced many lenders to halt their foreclosure process to re-evaluate the methods used and quality of the law firms selected to handle the cases. Once these matters have been addressed, expect a second huge wave of suits to follow in either the latter half of 2010 or early 2011. Among many reasons to expect this surge, most of the mortgages in default are actually pooled in mortgage backed securities whose sole income is generated by the principal and interest payments for those mortgages with investors who expect returns or aggressive collection efforts to protect their investments. Florida Foreclosure LawsReturn From Florida Foreclosure Process to Home Page |
