West Palm Beach Bankruptcy Attorneys

Foreclosure

Being involved in a foreclosure of your home can be a difficult thing for anyone to go through. Foreclosure is a complicated matter, so it would be in your best interests to speak with an experienced West Palm Beach bankruptcy lawyer during the process. The process of having your home foreclosed on can be hard to handle, so you need to be well aware of how foreclosure works and what is legal under Florida statutes and laws.

Foreclosure is when the lender begins the process of taking away your home because your payments have gone into default for one reason or another. If you refuse to (or cannot) make your mortgage payments for an extended period of time, the company will begin the process of repossessing your home because they are losing money from your lack of payment. The entire foreclosure process will usually take about 5 months to complete.

During the foreclosure, your lender will be required to give you written notice via certified mail that your home is being foreclosed on. After they have legally informed you, they will continue with the proceedings until the house has been taken from you and you have been evicted. The court will meet with the lender, you, and your West Palm Beach bankruptcy lawyer to determine the best way to resolve everyone’s issues in your particular situation. If you have the money, you can pay off the whole mortgage at one time and the house will become yours, free and clear. To do so, however, you must pay off the whole mortgage, not just the amount that is in default.

If you or someone you know needs help with foreclosure proceedings, contact the West Palm Beach bankruptcy attorneys of Eric N. Klein and Associates at 561-353-2800.