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Foreclosure Homes Guide for Florida Property 

Foreclosure homes are properties that have been repossessed by a bank or lender due to the previous owner's inability to make mortgage payments. These homes can be a great investment opportunity for those looking to buy a property at a discounted price. For more info visit Home Seller Heaven

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Foreclosure Homes Guide for Florida Property 

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  1. Foreclosure Homes Guide for Florida Property  Welcome In Home Seller Heaven

  2. Understanding the Foreclosure Homes Process in Florida The foreclosure process in Florida is a legal process that permits a lender to take possession of your home and sell it to repay the outstanding mortgage debt if you default on the loan. The process is governed by state laws

  3. The Various Phases of the Process   On June 7, 2013, Governor Rick Scott signed a foreclosure bill into law to speed up the foreclosure process in Florida. Some Florida foreclosure laws are definitely helpful to homeowners, but some of them are detrimental to them too.

  4.  Default     When you fall behind on the loan, the foreclosure procedure starts. This usually happens when you repeatedly miss mortgage payments. Keep in mind that a foreclosure cannot take place without a missing mortgage payment. 

  5. Notice of Default     Once you are in default the lender will send a notice of default, which informs you that you have a certain number of days to cure the default (pay the overdue amount) before the foreclosure process begins.

  6. Lis Pendens    In Florida, a judicial hearing is required for a foreclosure filing.    If you don’t cure the default, the lender will file a Lis Pendens with the county clerk. This is a notice that a lawsuit has been filed and the property is in foreclosure

  7. Foreclosure Complaint   The lender will then file a foreclosure complaint with the court. This document sets out the lender’s claim that you are in default, and the lender has the right to foreclose on your home.  Under federal law, a lender can’t officially start a foreclosure until you are at least 120 days past due on mortgage payments, subject to some exceptions.

  8. Right to Cure    Florida law gives you the right to cure the default (pay the overdue amount) before the foreclosure process can begin. Once the lender sends the notice of default, you have 120 days to pay the overdue amount and stop the foreclosure process.

  9. Summons The lender files a lawsuit requesting a court order to permit a foreclosure sale. You will be served with a summons, which informs you that a lawsuit has been filed and that you must respond to the foreclosure complaint within a certain number of days

  10. Answer   You will typically get 20 days to file a written answer with the court. You can file an answer to the foreclosure complaint, in which you can raise any defenses you have to the foreclosure

  11. Thank You Contact Us : Home Seller Heaven 11151 NW 36th Ave Miami, FL 33167 USA (305) 209-5230 More Info: Click here

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