An excellent post from an Attorney regarding how recent changes have streamlined the foreclosure process that in some cases could force the homeowner to lose their home in 100 days. The key point for those in this unfortunate situation is: don't procrastinate.
Recently several borrowers have stated to me that the foreclosure process in Florida is going to take two years. The long foreclosure process was caused by a combination of overloaded plaintiff attorneys, overloaded lenders, and overwhelmed court system. Although that statement (as unfortunate as it is for the foreclosing banks) was pretty accurate at one time, today is a different story.
Today there is a new dawn in the foreclosure legal system. Where once there was one judge handling foreclosures, now (in Palm Beach County for example) there are at least six. Where once the clerk used its own employees for all tasks, now the clerk has rounded up a posse of volunteers to do filing and other tasks. Where once the public foreclosure sales were backed up for months to get on a sale sheet (which were twice a week) and done by human beings, now it is all done by computer and take place 4 or 5 times a week. I represent borrowers as well as lenders. This week (representing a lender) I got a foreclsoure sale date for just 5 weeks out.
Technically, using the civil procedure and statutory sale rules and laws and taking all waiting periods into consideration, a Florida foreclosure sale can take place just 100 days from the time the case is filed (and that includes some "fudge time"). That is a far cry from 2 years. There are still plenty of things that can cause delays, but the only one of those "things" that a borrower can control is being sure they are properly represented by an attorney from the very beginning of the litigation. A discussion of the foreclosure process is contained in A LAWYER'S EXPLANATION OF THE FORECLOSURE PROCESS.
I have used this analogy before in other context but it works here too - imagine an hour glass with the sand dropping from the top to the bottom of the glass. Each grain of sand is a solution, or an opportunity, or some planning device, or a defense, or an answer. The grains of sand (and what they represent) cannot be used once they are in the bottom spent part of the hour glass.
Procrastination is not a plan.
[I suggest you also read the sister article at ITS NOT THE JUDGE'S JOB TO BE THE DEFENDANT'S ATTORNEY]
Copyright 2010 Richard P. Zaretsky, Esq.
Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make. This article is for information purposes and is not specific advice to any one reader.
Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660 email: RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide! Shortsales@Florida-Counsel.com New Website www.Florida-Counsel.com.
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