What is a Notice of Filing in Florida regarding the foreclosure process on a home I’m renting?

by oliver on September 30, 2010

Question:

What is a Notice of Filing in Florida regarding the foreclosure process on a home I’m renting?

I just received a “notice of filing” in the mail and I’ve searched for that term on the web but can’t find it. We’ve been renting the house for 5 years and the home is apparently going into foreclosure.

Answer:

The Notice of filing means that the lender is filing for a foreclosure against the homeowner. This means that the borrower, or the person who owns the house that you are renting has not paid the monthly mortgage. If you have paid your rent but your landlord was not able to pay the lender who holds the mortgage, you will still experience foreclosure. Therefore, it is your landlord who should take responsibility over the situation and prevent the foreclosure process from accelerating.

After receiving the notice of default or filing, you and your landlord are given a certain time period to make your mortgage payment current. If you have been diligently paying your rent, you should not be as stressed as your landlord because it is his fault. However, since you are the one who will lose a home in case the foreclosure takes effect, you must take the matter seriously and try to find ways to stop it. If you and your landlord can work out an agreement with your lender such as forebearance, refinancing, mortgage modification or short sale, then foreclosure will be avoided. However, if no agreement was made to resolve the problem, the property will be sold to the public thru an auction. In this auction the one who gives the highest bid will become the new owner of the house. After the auction, the new owner can file for an eviction process if the previous owner is still staying in the property.

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