Has a judge ordered your case to Mediation? We can help. We can represent you during your Foreclosure Mediation appearing with you to modify your mortgage with your lender or help you find a solution to postpone foreclosure of your home. We have worked with dozens of lenders helping home owners keep their homes.

Neither party wants a foreclosure!

The lender doesn't want foreclosure because they still want the total amount owed to them and the borrower wants to be able to keep his/her home. However, in difficult times like these, lenders will file a foreclosure as a last resort if the total amount owed to the lender is unpaid.

Foreclosures are an unfortunate reality as a result of sub-prime lending. There are many things you can do to prevent, re-structure or minimize your debt exposure as a result of a foreclosure proceeding.

If the borrower does not respond to the court action within a specified amount of time, the county clerk can find the borrower in default, the failure to do something required by law, and the lender can ask the court to make a final ruling. If the court rules against the borrower, the ruling will include the total amount owed to the lender and the foreclosure sale date.

Florida is a court proceeding state, meaning your mortgage company must spend money on an attorney to prosecute the foreclosure. Foreclosures normally can take anywhere from 6 months to a year. The lender is not required by state law to notify the borrower, you, before initiating the foreclosure process, but individual mortgages or deeds of trust might call for this. The borrower can stop the foreclosure up until the date of the sale by paying the total amount owed to the lender.

Notice of Sale / Auction

The sale date is typically 30-120 days after the court ruling, but this may vary depending on the individual court. The clerk of court issues a notice of sale containing the location, date, and time of the sale. The notice is published once a week for two weeks, with the second notice appearing at least five days before the sale.

The clerk usually oversees the sale, which ordinarily occurs at the county courthouse at 11:00 a.m. on the sale date. The winning bidder must provide a 5-percent deposit and pay the remaining balance by the end of the day or a new sale is scheduled a minimum of 20 days later. After a successful sale, the clerk gives a certificate of sale to the winning bidder

Within 10 days of the sale, the clerk transfers ownership to the winning bidder if no one disputes the sale. In most instances, a borrower has no right of redemption after the certificate of sale is issued.