If my mortgage lender has started foreclosure proceedings, how will I know that the process has started?

In the state of Florida, the law allows lenders and mortgage companies to foreclose on homes without any requirements for filing in court and conducting a hearing with a judge. Most Florida/Orlando mortgage contracts contain a limited power of attorney wherein you are authorizing that lender or mortgage company to foreclose on your home and inform you of it with a simple notice of default in writing. Additionally, the only other requirement is that they must announce the foreclosure process in your county’s local “legal” newspaper. Another critical aspect of the foreclosure process in the state of Florida is that the foreclosure sale can take place within 37 days, unlike other states where it can take several months. However, most foreclosure processes do not occur this rapidly. Normally, your lender will call you or send you a letter once you have missed a payment or two. The process will not usually begin until you are 3 months delinquent in other states. What you need to realize is that you need to take action immediately if you receive a foreclosure notice, as the process can be extremely difficult to stop. The lender or mortgage company must write you and send the letter to the mailing address associated with your mortgage account so as to advise you that they have begun the foreclosure process. You have a couple of options if you have recently moved and are not receiving your mail in a timely manner. The first step to take is to try and contact the lender’s attorney on the phone and in writing and inquire as to the possibility of your home being in foreclosure. Additionally, some foreclosure legal firms post information online regarding pending foreclosures. You can also get the name and address of the lender’s attorney by calling that lending company. Once you have received a notice of foreclosure, your time is beginning to run out immediately, so it is necessary that you react accordingly. If you find that you are in this position and are about to have your home sold out from under you, you should contact Orlando/Florida bankruptcy attorneys Clark & Washington so that we can save you the grief of losing your home. Our firm only handles these types of cases, so you can be assured that we have a vast amount of experience and expertise regarding the foreclosure process. Please contact us immediately for further assistance and to answer your questions.