Florida foreclosures are moving forward faster than they were a couple of years ago. The time lag that gave Florida owners some wiggle room on deciding what to do regarding their foreclosure defense is becoming shorter. It’s important to act fast if you are served with a foreclosure. 8 online cash advance payday loan Get Cash in Fast Time.
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Faster Foreclosure Process in Florida. Florida has an expedited foreclosure process for uncontested cases or if the homeowner doesn’t have a genuine defense. See Nolo’s article Fast-Track Foreclosure Process in Florida for details on this accelerated foreclosure process. Reinstating the Loan to Stop the Sale
It’s a subtle sign of the housing recovery: Short sales have finally exceeded the number of foreclosure sales in South Florida. Banks are clearing out distressed properties and approving the deals.
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Florida statutes provide that a foreclosure sale be held 25-35 days after entry of the judgment, but with all the foreclosures in the Florida courts, the Clerks have not been able to keep up with that time-table.
What Does Foreclosure Mean? Here is our foreclosure definition: Foreclosure is a legal process where a creditor (i.e., a lender or mortgage holder) can repossess or sell property for the purpose of repaying the debt owed on that property. Mortgage holders can foreclose on a property any time after the borrower starts to miss payments on the mortgage, unless otherwise set out in the mortgage or.
Florida lawmakers are taking what some might call harsh measures in an attempt to push foreclosure reform bills through their state legislature and speed up the process. Their hope is that a faster foreclosure will ultimately mean a faster recovery. Sounds like twisted governmental "dislogic" to me.
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Orlando’s housing market is so thin on for-sale listings that, although it could absorb more foreclosed homes without crippling property values, the market’s recovery could slow if banks slash prices.