Question: How long does the foreclosure process take once I am served with foreclosure lawsuit?
Answer: Times vary widely and an attorney may be able to assist by filing the proper paperwork and causing the bank to prove every element of the claim. Additionally, in Florida foreclosure proceedings, mediation is required before summary judgment. At mediation, an opportunity is presented to resolve the dispute through a variety of possibilities which may include refinancing of the loan, loan extension, or principal forgiveness. What is offered varies greatly from bank to bank, and based on the economic predicament of the property owner.
Typically, with an attorney, a foreclosure proceeding may last a year or more, so long as the proper paperwork is filed.