St Petersburg Florida Foreclosure Help, Defense, Laws and Process


The world of loans may promise a million benefits at the first instance along with providing you the most attractive offers but in the last stages everyone is aware of the consequences that prevail in form of foreclosures. Florida has a population of approximately 248,232 people where more than 50% of the residents have their house on foreclosure basis. Florida, St Petersburg Foreclosure Help can provide you some handful advices and tips that protect you from bankruptcy. But before one knows about the saving technique, one must know about the system which guides foreclosures.

Florida is regarded as the home of the fearless yet people living over there now fear foreclosures. St Petersburg foreclosure process is carried out in Florida by three ways, namely, Original Purchase Money or refinance, which falls into the category of non judicial terms, Home equity loans and property tax loans, which falls under the purview of both, judicial and non-judicial and property taxes owed to the government, which falls into the category of judicial.

Stop Foreclosure in St Petersburg, Florida

  • Judgment decree is yet another form of foreclosure process which involves determination of the net amount due by the borrower to the lender and on such debt due orders will be passed by the court.
  • The non judicial term or Original Purchase Money system is based on trust deeds which are executed between the lender and the borrower. The trust deed reserves expressed power in the hands of the lender to sale the property of the borrower incase of his default, without even obtaining any prior approval of the court. But the situation reserves the right of the borrower too by way of a notice of default which will be sent to the borrower at least before 20 days, providing the borrower with a chance to rectify and the second notice is sent before 21 days of sale of property to the borrower as well as the public.
  • The next steps are Principe, Appraisal and newspaper publication followed by foreclosure sale. Foreclosure sale is another kind of sale in case of foreclosure where the highest bidder in case of sale of property is required to deposit an amount which is equal to 10% of the winning bid either by way of a certified check or by way of cash to the sheriff.
  • Usually, there is an appointment of a trustee who carries out the sell proceeds on behalf of the lender. The sale mainly takes place in the form of an auction, where the highest bidder is given the preference.

Here are some URLs which will help anyone in St Petersburg to get rid of the foreclosures.

Conditions for sale: Before the sale takes place, the lender has to follow some norms and rules.

  • Firstly, the lender must publish a notice of such intent in a newspaper that has a general circulation all over the country in which the property is located for at least one day in a week for four consecutive weeks, added to it, a notice must also be posted on the property which is to be foreclosed within 20 days.
  • Secondly, the notice for foreclosure shall contain the date, time, address and other related legal information in respect to property.
  • Thirdly, the foreclosure sale must take place between 9am to 5amon regular working days, other than Saturdays or other legal holidays.

These tips will definitely help you out to get yourself out from foreclosure. So, if you can abide by these rules then you will get the better of the foreclosures.