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FAQ

  • Foreclosure

    • What is a HUD subordinate mortgage?
      A HUD subordinate mortgage refers to a type of loan that is subordinate or secondary to the primary mortgage on a property. HUD, which stands for the U.S. Department of Housing and Urban Development, offers various housing programs and initiatives to assist homebuyers, particularly those with low to moderate incomes.
    • How long does the foreclosure process take?
      Due to the backlog of foreclosures in Florida, the entire process can take a year or longer to complete, but you still want to explore your alternatives to foreclosure as early as possible.
    • Are Florida foreclosures judicial?
      Yes, Florida foreclosures are judicial, this means that the lender must file a lawsuit in court to foreclose on your home.
    • Can I get my home back?
      Once the foreclosure is over, you cannot get your home back. But, you have until the court clerk files the certificate of sale or until the time given on the foreclosure judgment to pay off the full amount of the unpaid loan to keep your house. This process is called "redeeming."
    • Does Florida order deficiency judgments?
      In Florida, deficiency judgments are allowed when the homeowner is personally served in the lawsuit; however, the courts have flexibility regarding the amount of deficiency, regardless of the type of mortgage.
    • What if I can't keep my home?
      If you and your lender agree that you cannot keep your home, you still have options that may allow you to avoid foreclosure, including: a deed-in-lieu of foreclosure, a pre-foreclosure sale, an assumption, or refinancing.
    • What types of options may I have?
      If you want to work with your lender to keep your home, your options may include any of the following: reinstatement, forbearance, a repayment plan, or a loan modification.
    • I can't afford my mortgage, what should I do?
      You should contact our office as soon as you realize that you cannot afford to pay your mortgage or if you have missed a payment. Ignoring the problem is a mistake; you may have options that are better alternatives over losing your home to foreclosure.
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