Question: I fell a little behind on my payments and now I am in foreclosure and I don’t want to loose my home. What can I do?
Answer: Foreclosure proceedings can be long and both the bank and the property owner are adviced to try to resolve the issue with a variety of programs which include loan refinancing, loan remodifications, term extensions, principal reductions, etc.
A foreclosure can not happen until there is a judgment. And a judgment can not happen unless there is a trial or a successful motion for summary judgment. A trial or summary judgment can not happen, in Florida, until there has been a mediation, if property owner chooses to participate. As such, it is critical to receive legal advice concerning the particulars of your case and that the appropriate paperwork is filed with the Court.
Ultimately, you will need to pay some reasonable amount per month, and any prior non payments may be added to the end of the loan.