How Are Foreclosures Prosecuted?

If a homebuyer stops paying for a property, the lender can take legal action to try and get their money back. This process is referred to as foreclosure. Usually, people take loans when the property they want to purchase is much more expensive than they can afford. As part of the agreement, the property serves as collateral in the event that the buyer is unable to complete the payments. Here is how foreclosure is done. 

Fortunately, foreclosure does not happen overnight. If you are one or two payments behind on your mortgage, you are probably not at risk of eviction. If you are facing financial hardship, now is the best time to communicate with your lender before they take action. 


In most cases, the loan is considered in default after three consecutive months of missed payments. However, the lender will typically send communications once the borrower misses the first or second payment. This may include a notice of intent to initiate foreclosure. 

Judicial and Non-judicial States 

The amount of time you have to prepare and respond will depend on whether you are in a judicial or non-judicial state. Florida is a judicial state, which means the lender must go through the court first before proceeding with foreclosure. This process is relatively longer, with each event taking place after 30-90 days.

Fighting Foreclosure 

In order to stop the foreclosure process, the borrower generally needs to offer some sort of compensation to relieve the lender. For instance, you could propose to make all (or most) of your missed payments and compensate the lender for the legal fees and other expenses incurred. Or you could decide to pay off the whole loan in case you manage to secure a huge amount of money. 

Auction and Eviction 

If you are unable to stop the foreclosure process, the lender may auction the property and sell it to the highest bidder. Ownership of the home goes back to the lender if the auction is not successful. If you are still in the house at this point, you are probably facing eviction. The length of time you are allowed to stay in the property after foreclosure will depend on local laws. 

It is generally advisable to communicate with your lender as soon as possible if you are unable to continue with your payments. If you wait for too long, it might be impossible to stop foreclosure and you’ll end up losing all your investment. For any queries about the foreclosure process, contact Reyes Law Group today.

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Reyes Law Group

Reyes Law Group represents clients in a multi-disciplinary legal practice involving real estate transactions and litigation with a “footprint” that covers the State of Florida. Over the firm’s first 10 years, Reyes Law Group has closed over $100M in commercial closings, representing buyers and sellers in contract negotiations, due diligence, and the related title review and policy issuance related to closings. In litigation, the firm has commercial litigation experience focused on prosecuting or defending claims such as breach of contracts, partition actions, trade secret violations, and breach of non-competes. However, our firm’s MAIN FOCUS is assisting asset and loan portfolio managers, investors and private lenders with a “ 4-PILLAR APPROACH” to the legal challenges they face with non-performing assets: 1) LOAN WORKOUTS; 2) COMMERCIAL FORECLOSURES (across the State of Florida); 3) COMMERCIAL EVICTIONS; and 4) REO COMMERCIAL CLOSINGS.30+ years’ legal experience means - WE CAN HELP!

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