Consumer Relief in Florida | Mortgage Foreclosure Defense | $1.00 a day*

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• The origins of the word mortgage come from the ancient French words mort (death), and gage (a pledge). The word mortgage literally translates to “Death Pledge.”  The great jurist Sir Edward Coke, who lived from 1552 to 1634, has explained why the term mortgagecomes from the Old French words mort,"dead," and gage,"pledge." It seemed to him that it had to do with the doubtfulness of whether or not the mortgagor will pay the debt. If the mortgagor does not, then the land pledged to the mortgagee as security for the debt "is taken from him for ever, and so dead to him upon condition, and if he doth pay the money, then the pledge is dead as to the [mortgagee]." This etymology, as understood by 17th-century attorneys, of the Old French term morgage,which we adopted, may well be correct. However, taking out a mortgage did not mean that the mortgagee (sic.) expected to die if he did not pay back the mortgage; it merely meant that his entitlement to the mortgaged property would cease if he fell behind on his payments. The American Heritage® Dictionary of the English Language, Fourth Edition copyright ©2000 by Houghton Mifflin Company.

• The narrative of Jesus and the Money Changers occurs in both the Synoptic Gospelsand in theGospel of John,although it also occurs close to the end of the Synoptic Gospels at Mark 11:15–19, 11:27–33, Matthew 21:12–17, 21:23–27andLuke 19:45–48, 20:1–8, but close to the start in John (at John 2:12–25).  As a result, some biblical scholars think there may have been two incidents.  In the episode, Jesus is stated to have visited the Temple in Jerusalem, Herod's Temple, at which the courtyard is described as being filled with livestock and the tables of themoney changers.Jesus took offense to this, and so, creating a whip from some cords, drives out the livestock, scatters the coins of themoney changersand turns over their tables, and thoseof the people selling doves. Wikipedia, the free encyclopedia.

• The Lord's Prayer, Matthew 6:9-13 (King James Version) . . . and forgive us our debts, as we forgive our debtors.
  
  
  If you are delinquent in mortgage loan payments to the lender, have been served with a notice of foreclosure letter or have received a mortgage foreclosure complaint, you have a very short time to respond. In many cases, a homeowner and borrower may begin to lose precious legal rights in as little as twenty (20) days. Any delay may make the situation you are in worse, and if a borrower or homeowner fails to do anything at all, the situation may become the worst case scenario possible. Florida's mortgage foreclosure process will absolutely have serious, long lasting ramifications that you may have to deal with in the future, so it is absolutely in your best interests to participate now while it is occurring. Your decision to participate now may preserve, protect and safeguard valuable legal rights affecting your future income, credit worthiness and income tax consequences.
  
  We can offer to provide consumers with a mortgage foreclosure defense for as low as $1.00 a day*. Contact us for full details. Our representation in your foreclosure action will provide you with:
  • The knowledge you will need to make informed decisions during this time period
  • Our legal compliance analysis in the loan, collections, default and foreclosure process
  • More time to pursue all loss mitigation and alternatives to foreclosure
  • More time to negotiate a payment workout with your lender
  • More time to save up money to reinstate your mortgage
  • More time to refinance your mortgage
  • More time to sell your home for fair market value
  • More time to get over a hardship in your life so that you can afford to keep your home or property
  • More time to qualify for bankruptcy
  
  Foreclosure rates in the State of Florida continue to increase. The lenders are not always correct in the numerous avenues of legal compliance that they must abide by for each and every single real estate closing. Florida is a judicial foreclosure state, which means that a civil action must be commenced in order to foreclose upon a delinquent loan. The lender will file a law suit against the delinquent borrower and seek to involuntarily force the sale of the borrower’s home or real estate at a public auction to the highest bidder present on that day. The proceeds of the sale will be delivered to the lender to pay all remaining amounts owed on the delinquent mortgage. If there are no bids at the foreclosure sale, the lender will be permitted to take title to the property or home, at which time, the lender will attempt to sell the home or real estate on the open market to recover its mortgage debt. Below, is a brief outline of the time frames in which you can expect the foreclosure law suit to proceed.
  • Day 1- Complaint-Filed and served on borrower
  • Day 20-30- Borrower’s Answer to the Complaint is due- Borrower will be defaulted for not responding in writing to the Complaint NOTE: It is absolutely imperative that you act before the Court enters a default. Do not ignore the Complaint.
  • Days 90-120- Judgment Hearing-Judge will grant the lender a foreclosure judgment and set a sale date usually 30 days out.
  • Days 120-150- Foreclosure Sale and Eviction-The home or property will be sold to the highest bidder at a public auction. NOTE: A Bankruptcy must be filed prior to the foreclosure sale, or the Home or real estate will be lost forever!!
  
  I am behind on my mortgage payments, what do I do?
  Don't ignore the problem. It will only make your situation worse. The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house. Prioritize your spending. After healthcare, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses-cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage. Contact us immediately for a free consultation.
  
  I am in foreclosure, what options do I have?
  There are many options for you to pursue during the pre-foreclosure and foreclosure process. Below is a list of such possible options.
  • Do Nothing
  • Reinstatement Plan
  • Repayment Plan
  • Loan Modification/Loan Restructuring
  • Loan Refinance
  • Loan Forbearance
  • Assumption
  • Partial Claim
  • Pre-Foreclosure Sales
  • Short Sales
  • Deed-in-Lieu of Foreclosure
  • Bankruptcy
  
  Should I open and respond to all mail from my lender or lender’s attorney?
  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 notice of pending legal action and important dates. Your failure to open the mail will not be an excuse in foreclosure court, and ignoring these notices will only make the situation worse. Before responding, contact us immediately for a free consultation. Your lender will have an attorney working for them, so should you.
  
  I have just been served with a summons and foreclosure complaint. What do I do?
  YOU MUST RESPOND IN WRITING AND/OR SERVE AND FILE AN ANSWER AND AFFIRMATIVE DEFENSES WITHIN 20 DAYS OF BEING SERVED WITH THE COMPLAINT. Any delay may make the situation you are in worse, and if a borrower or homeowner fails to do anything at all, the situation may become the worst case scenario possible. Contact us immediately for a free consultation. Florida's mortgage foreclosure process will absolutely have serious, long lasting ramifications that you may have to deal with in the future, so it absolutely in your best interest to participate now while it is occurring. Your decision to participate now may preserve, protect and safeguard valuable legal rights affecting your future income, credit worthiness and income tax consequences. Contact us immediately for a free consultation.
  
  If I do nothing, what will happen?
  A default and default judgment will be entered, and the clerk of the court will auction your property, usually within 25 to 30 days from entry of a final judgment.
  
  Should I use a foreclosure prevention company?
  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 month's mortgage payment) for information and services your lender may provide for free. Watch out for foreclosure recovery scams! If any firm claims they can stop your foreclosure immediately 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 or a trusted real estate professional.
  
  Will the foreclosure process affect my credit score?
  It is hard to say exactly how many points your credit score will drop due to a foreclosure. There are numerous factors that affect your credit score. It does appear though, that loss mitigation options that do not result in the completion of the foreclosure are better for your credit score depending on which credit buerau you are looking at.  However, Fair Issac Corp. (FICO) has been quoted as saying that loss mitigation options have the exact same negative effect on a person's credit score.  This is so because Fair Issac Corp. has done very little analysis distinguishing loss mitigation options vs. foreclosures, and as a result of ignorance they treat loss mitigation options and foreclosure all the same.  However, Transunion, Equifax and Experian have a little more detailed credit scoring system, so they may account for loss mitigation options.  However, a benefit of short sales and other loss mitigation options is that borrowers will generally face a shorter waiting period before they can obtain another mortgage.  Many lenders primarily make loans that they can sell to big mortgage players Fannie Mae and Freddie Mac.  Fannie Mae generally will not buy loans made to borrowers involved in a short sale in the past two years. That's shorter than the four-year wait time if you have a deed in lieu of foreclosure on your record, and the five-year wait time if you have a foreclosure on record.  Typically, any late mortgage payments are viewed as a negative mark. Generally, negative marks will remain on a credit report for 7 years. Foreclosures also remain on credit scores for 7 years. The impact on credit scores diminishes over time though. Loss mitigation efforts and foreclosure are definitely better than a bankruptcy, as the filing of a bankruptcy is viewed by the credit reporting industry as an attack against all trade lines across the board, whereas a mortgage foreclosure is only an attack against a single trade line, your mortgage lender.
  
  What if I file bankruptcy?
  A bankruptcy will stop the foreclosure. A chapter 13 bankruptcy may allow you to make up the arrearages and reinstate your mortgage, over a period of time, usually 5 years. It means you make a regular payment and part payment each month until you get caught up. In a chapter 7, you will have to pay back the arrearages much quicker than 5 years, the foreclosure will continue. The general rule is bankruptcy negatively affects your credit score for 10 years, but sometimes the creditors on a chapter 13 will voluntarily remove it after 7 years to encourage people to file a 13 rather than a 7.
  
  Are their income tax consequences as a result of a foreclosure?
  It usually depends on whether or not your home or property has equity and what type of loan it is. If there is no equity, it is likely that the property or home will be sold for less than the mortgage amount owed. The Internal Revenue Service will consider debt forgiveness by the lender as income, and the borrower may also have income in the form of capital gains from the sell or transfer as well. However, there are several ways to offset this gain or income such as off setting income and capital gains with losses, being insolvent at the time of the transfer and bankruptcy. CONSULT WITH AN ACCOUNTANT. These rules are complicated and you are advised to make a thorough examination of your personal financial situation with an experienced tax professional.
  
  After the property is auctioned by the court clerk, do I have to get out?
  Yes. The sheriff’s office will physically evict you and remove you and your personal effects from the property, usually in as little as 10-15 days.
  
  What can an experienced and knowledgeable lawyer do?
  File an answer containing affirmative defenses, if any.
  
  In the answer, is a denial of the lender’s complaint all I need to do?
  Usually not. You must state all affirmative defenses, otherwise they may be waived or may be may not be sufficient to stop the foreclosure process.
  
  What are affirmative defenses?
  They are special defenses which must be specifically alleged, such as truth-in-lending violations, usury, fraud and other specific types of improper conduct by the lender, which may defeat or partially defeat the lender’s claims.
  
  Why are affirmative defenses different than just an answer with denials?
  The lender has a sufficiently more difficult burden to obtain a “fast” or summary judgment of foreclosure when affirmative defenses are filed.
  
  Can an attorney just delay the case without justification?
  No. An attorney cannot cause delay solely for that purpose. But, in the full exercise of your legal rights, delay may result as a by-product of a proper defense, often caused by the plaintiff not properly and promptly responding to your attorney’s rightful demands.
  
  If I get a lawyer, does he automatically get more time to file an answer?
  No, the 20 days continues to run. If a default is taken against you, it will pose, at a minimum, difficulties in getting the default set aside and allowing your attorney to use the defensive arsenal otherwise available on your behalf.
  
  If my property is sold by the court clerk, what price will it bring?
  Usually much lower than fair market value. Most of the time it is sold for the total amount of the mortgage, or less.
  
  Will I get any of the sales proceeds?
  Only if there is a surplus (if the property is sold for more that what is owed in total to the plaintiff and all other mortgages and liens on the property).
  
  If the property is sold for less than the total owed, can the lender collect the difference?
  Yes, but only if the Lender also obtains a deficiency judgment.
  
  Can I sell the property and get my money out?
  Yes, you can sell or refinance so long as the lender is paid prior to the foreclosure sale date.
  
  I have lots of other questions, can I call the judge or the court for advice?
  No. Judges, judicial assistants (judge’s assistant), court clerks and sheriff’s department employees cannot practice law or give you legal advice. They can only point out the existence of certain procedures, but cannot tell you how to follow them or how effective they will be.
  
  Do I have the right to reinstate? (bring the mortgage current)
  Not always, unless your mortgage or mortgage note specifically gives you this right. However, many mortgage lenders often voluntarily consent to reinstatement.
  
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