Avoid Foreclosure in Jacksonville Florida
Welcome back to the latest blog about Foreclosure in Jacksonville! (this applies to all of Florida) In the last blog we talked about the reasons you found yourself getting behind on your mortgage payments. Today, we're going to talk about the process of foreclosure and what steps are involved. Typically, when you're 3 payments behind, your mortgage company will send you a breach letter, also known as a notice of default. 30 days later they send the file to their attorney who then files a notiice of "Lis pendens" in the county you reside. You will receive a notice of "Lis pendens" as well. This becomes public record for the world to see. In most counties, the public records are online so anyone with a computer and Internet connection can search the Lis pendens. Once your Lis penden is in the public records, be prepared to receive tons of mail from people wanting to "help" for the next few months. You will even receive phone calls and even some visitors at your front door! One client of mine was even lucky enough to find a coffee mug at her doorstep filled with candy and a note. That's great for home owners with kids who are trying not to let their kids know about the situation they're in. You're going to receive letters from investors wanting to buy your home, companies offering to help you save your home (for a fee) and you'll probably receive letters from real estate agents. With all the letters, phone calls, wonderful and "thoughtful" gifts you receive you may end up very confused. Make sure you check out these companies first. Also the companies offering to help you save your home, well the things they'll do, you can do yourself..for free!
More on that in the next blog. To continue along our timeline, once the Lis pendens has been filed, you have approximately 4 months before your home is sold on the court house steps. Approximately 3 months after the Lis pendens is filed you'll have a hearing before a judge. At that hearing you can plead your case to have an extension. Depending on the situation, the judge may grant you more time. If an extension isn't granted, 30 days later your home will be sold.
If you're wondering if there's anything you can do to avoid foreclosure, you do have options. Please visit www.pamgraham.com/ and click on avoid foreclosure to receive a free report detailing those options.
Also, in my next blog : " Foreclosure in Jacksonville Florida Part 3" I'll discuss what options you do have to avoid foreclosure.
Comments(3)