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[vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″ el_class=”STAGE 1: NOTICE OF DEFAULT”][vc_message color=”” message_box_style=”solid” style=”rounded” message_box_color=”black” icon_type=”fontawesome” icon_fontawesome=”fa fa-info-circle” css_animation=”” icon_openiconic=”vc-oi vc-oi-dial” icon_typicons=”typcn typcn-adjust-brightness” icon_entypo=”entypo-icon entypo-icon-note” icon_linecons=”vc_li vc_li-heart” icon_pixelicons=”vc_pixel_icon vc_pixel_icon-tick”]STAGE 1: NOTICE OF DEFAULT ISSUED[/vc_message][vc_row_inner css=”.vc_custom_1425219940251{margin-top: -20px !important;}”][vc_column_inner el_class=”” width=”1/2″ css=”.vc_custom_1425332190263{margin-top: 20px !important;}”][vc_single_image image=”2575″ alignment=”center” style=”vc_box_outline” border_color=”grey” img_link_large=”” img_link_target=”_self” css_animation=”” img_size=”500×300″][title align=”center” icon=”” icon_color=””]Take the Time to Learn Your Options[/title][vc_column_text css_animation=””]

If your like many homeowners experiencing default, you may have an urge to simply ignore the notifications that you receive in the mail.  Florida foreclosures typically require that the lender send you very specific notice.  The failure to provide proper notice may mean that your lender has not fulfilled all the conditions precedent to successfully begin the foreclosure process.  After you receive your initial notice of default, it is important that you speak with an experienced attorney who can advise you of your potential options and explain the foreclosure process.  We can help you manage this issue and we will explain to you your options when facing a Florida foreclosure.  You may have defenses or solutions that you are currently unaware of. 

[/vc_column_text][/vc_column_inner][vc_column_inner el_class=”” width=”1/2″ css=”.vc_custom_1425332204110{margin-top: 20px !important;}”][title align=”center” icon=”” icon_color=””]Dont Ignore a Notice of Default[/title][vc_column_text css_animation=””]

If you have missed payments on your mortgage, you should expect to see not only a significant reduction in your credit score but also a series of several letters from your lender.  Typically, but not always, these notices are sent in a 30, 60, and 90 day overdue period.

Your mortgage is a contract.  Like many contracts that you don’t get the opportunity to negotiate, your mortgage contract is full of legalize and language that goes a long way to protect the lender’s interest in protecting its collateral to the loan (aka your home).  Typically these mortgage contracts are similar or identical because many lenders use pre-approved form mortgages.  One of the biggest surprises to many homeowners is a concept known as Acceleration.  An acceleration clause allows your lender to treat the entire balance of the debt due if you have missed payments.  So if you miss several payments, pursuant to terms of most mortgages, your entire balance may become due.

Typically, Paragraph 22, of the standard uniform mortgage documents contain provisions that set out the notice requirements that your bank must fulfill before become entitled to begin the foreclosure process.  This is a very powerful tool for foreclosure defense.  Nonetheless, although this may be a potential defense to foreclosure, if you have missed several payments you need to take action immediately.

Although mentioned frequently on this site, it bears repeating,  the number 1 mistake people in foreclosure make is failing to respond to the foreclosure. Be proactive, many lenders have in house loan modification programs or provide home loan modifications through the larger programs like HAMP.  Also, keep records.  If your lender has provided you notice of your default, make sure you record what notices you received and when and of course maintain a copy of the documents in a safe place.  Additionally, every time you speak with a representative of your lender regarding the foreclosure process, keep a record of the conversation that also includes the name of the individual, the time and date and the subject matter of the conversation.  These notice documents will undoubtedly play a crucial role in your foreclosure process.  Keep in mind that although you may not be able to afford your mortgage payments, you will be unable to obtain better financing or a mortgage foreclosure alternative if you ignore the bank.