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Thread: FL foreclosure laws

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    God/dess CKXXX's Avatar
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    Default FL foreclosure laws

    I'm late on my mtg (business has been shit and now I have to have surgery for cervical cancer so my medical bills are insane) and I dont want to lose my house. I"m working as hard as I can to come up with the $5-$6K i need to get UTD on everything before my surgery.Can someone direct me to FL laws...if I am paying at least part for instance can they still foreclose if it comes to that? I dont want to have to file Bankruptcy if I can help it.

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    Banned Melonie's Avatar
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    Default Re: FL foreclosure laws

    also be aware that new federal bankruptcy laws supersede some pre-existing provisions of state bankruptcy laws ... in Florida's case the ability to shelter millions of dollars worth of (paper) home equity from foreclosure.

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    Veteran Member Robertjordan's Avatar
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    Default Re: FL foreclosure laws

    Another note is that in Florida you can avoid foreclosure by paying everything you owe right up to the date that the judge slams down the gavel. The proceedings would take several months so you would have at least that much time once they decide to foreclose.

    Also, make sure you have paid at least your P&I, your principal and interest. Your escrow money, taxes and insurance are usually prepaid so you can actually get behind on them and it wouldn't be considered in default. Of course if you have unpaid taxes or no insurance then that would be in default but taxes are due in November and in default in April iirc.

    Basically, the lender does not want to foreclose, and will only do so as a last resort. So if you can get partially caught up or pay some, then do so and call them. Communicate with them, that's the best way to avoid further trouble.

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