The recent times have witnessed a great boom in real estate, particularly residential real estate. With the ease of availability of loans and mortgages, it was possible for most individuals to purchase a house. While the payment was on easy terms and low interest for a while, the interest eventually becomes higher. In the last couple years, with the economic situation not very conducive, many people have lost jobs and have had to declare bankruptcy and face foreclosure proceedings on their properties. Many of them could have salvaged at least some of their life's savings if they could have sought a Foreclosure Attorney Florida.

Foreclosure

A foreclosure is initiated by the creditor, mostly lender of a mortgaged property, when the debtor fails to make a mortgage payment. The lender is most likely to be a bank. The bank files a foreclosure which is actually a civil lawsuit. The complaint will state that the promise to make payments was broken and hence the property has to be sold to recover the money. The notice is then served to you. After this, you will have 20 days to draft a response and present it to the court failing which a decision will be taken against your interest in the proceedings. Without Foreclosure Law Firm, drafting a response is not easy. You will also need to defend yourself if you intend to keep the property.

Motion to summary judgment

A motion to dismiss the case in a quick manner without any trial is often moved by the lender. This request when presented at a hearing, will state that there is adequate evidence to prove that an individual has defaulted and hence should give up the right on the property. When such a motion is moved, the judgment will be in favor of lender unless there is a strong defense, for which you would need the help of Foreclosure Attorney Florida, to prove that you have not been able to make the payment. If you are able to prove your point, then you can get a decision that is lenient and gives you more time to make the payments. You may also be able to get debt restructured to facilitate easy payment.

The role of a Foreclosure Fort Lauderdale lawyer or other areas

Many times, individuals default due to financial difficulties. Lenders may want to take advantage of this situation. They may even resort to fraud. In order to protect your investment in the property and also keep the property, you will need an attorney experienced in real estate and Foreclosure Law Firm in your county. From the drafting of the response to defense, a lawyer can guide you well