Is there a judicial hearing in Florida during the foreclosure process?

by oliver on September 30, 2010

Question:

Is there a judicial hearing in Florida during the foreclosure process?

Will i have a chance to plead my case in front of a judge?

Answer:

If you want to keep your property, contact a real estate attorney or loan modification attorney at once. They will be able to negotiate with your lender for possible changes in the mortgage terms to make it more affordable to you. If your lawyer comes to an agreement with your lender, then you are saved from foreclosure and will still keep your home. If the lender does not agree or if you are not qualified for a loan modification program, you may look for other ways in order to prevent the foreclosure from taking action. You can seek the help of the banks for refinancing in order to make your payments current. If it is all right with you, you can also ask your lender whether or not he agrees on a short sale. If he agrees, the property will be sold to the open market at its fair market value, and you will be relieved of your financial burden. However, you will still move to another residence if you want a short sale. This would be a lot better than facing a foreclosure because it will stay in your credit report for as long as seven years and will greatly affect your future loan applications as well as employment.

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