Foreclosure Defense

Have you been served with a foreclosure complaint? If so, you usually only have 20 days to respond by filing an answer with the court to avoid a default judgment.

If you ignore the complaint and a default judgment is entered against you, it means that your lender essentially “wins” its foreclosure case against you and can go about scheduling the foreclosure sale. The foreclosure sale can occur in as little as 30 days, after which you will have to move out of the house, and you will have lost any chance you may have had to explore other options like a short sale, a deed in lieu of foreclosure, or a loan modification. Even worse, it is highly likely that your lender will be granted a deficiency judgment for the difference between what it is able to recoup from the foreclosure sale and what you owe on your mortgage or mortgages.

Many homeowners are shocked to discover that after they have lost their home to foreclosure and they think that the nightmare is behind them their lender renews its collection efforts attempting to collect on deficiency judgments granted in conjunction with the foreclosure. Lenders often have the right to pursue deficiency judgments and such collection efforts can result in wage garnishments, bank garnishments, judgment liens and other legal action.

How can I avoid foreclosure?

The Law Office of Jeffrey D. Ostlie, P.A. (the “Firm”) represents many homeowners facing foreclosure. During a free, initial consultation, the Firm can analyze the specific circumstances present in your case and begin to formulate a legal strategy to help you out of the situation with dignity.

The Firm will develop a custom tailored strategy to deal with your distressed asset; such strategy might include defending against foreclosure in conjunction with employing a loss mitigation strategy like the following:

  • Short Sale
  • Deed in Lieu of Foreclosure
  • Short Re-finance
  • Loan Modification      

However, if a foreclosure suit has been filed, time is against you. Before any of these loss mitigation strategies can be attempted it is imperative to avoid a default judgment. We do this by responding to the foreclosure complaint and forcing the lender to prove its case under Florida law.

What exactly will the Law Firm of Jeffrey D. Ostlie do to help prevent a foreclosure of my property?

The Firm is uniquely qualified to assist you in resolving matters relating to foreclosure. Often the best solution to the foreclosure is a short sale; the Firm has strategic partnerships with real estate brokers and a title company. This means that you only need to make a single phone call to The Law Office of Jeffrey D. Ostlie, P.A. 407-330-5255 or email info@ostlielaw.com and while we handle the legal aspects of your case we can refer you to a qualified Realtor who will market your home and once the time comes for closing, we have licensed title insurance agents who will close your home. If you call or email us today we will employ the following steps:

  1. First, any representation will begin with a consultation to determine what your goals and desires are; this enables us to determine the appropriate loss mitigation strategy. If you want to keep the house then we would advise exploring a loan modification or some type of refinance that will enable you to get the payments to a level you can afford. If you would rather dispose of the property, then we would explore the possibilities of a short sale or deed in lieu of foreclosure. If a short sale is the appropriate strategy, with your consent, we will notify a qualified Realtor, who we have a working relationship with to contact you and we will work with them to successfully resolve your matter.
  2. Next the Firm will review the foreclosure complaint and accompanying documents and draft and file an appropriate response. Depending on the particular circumstances this could include a Motion to Dismiss or an Answer to the
    Complaint.
  3. Once we have responded to the Complaint, we begin the steps necessary to engage the appropriate loss mitigation strategy, i.e., short sale, loan modification, refinance, deed in lieu of foreclosure, etc.
  4. While we are working to get the appropriate loss mitigation strategy negotiated and approved, we stay abreast of and respond to all developments through the courts on the litigation side of the foreclosure lawsuit, i.e., filing appropriate pleadings, motions, appearing at hearings and/or mediation.
  5. Our goal is to successfully implement a loss mitigation strategy before the lender is able to complete the foreclosure.

If you have been served with a foreclosure complaint, time is not on your side. You need to take immediate steps to protect your rights. If you have not been served with a foreclosure complaint but you are behind on your payments, don’t wait, it is only a matter of time. The earlier you contact us the better positioned we will be to assist you in resolving your matter.