More FAQ’s

How does the Foreclosure process in Florida work?

1. Missed Payments (After 90-120 days of no payments, Lender files suit)
2. Lawsuit Filed (You receive a summons, you have 20 days to respond)
3. Court Judgment (If the bank wins, a sale date is set)
4. Auction (Home sells to the highest bidder)

The BEST time to act is BEFORE the lawsuit is filed.

How long does the Pre-Foreclosure process take in Florida?

Florida’s Foreclosure timeline is typically 5-7 months from the first missed payment to the auction, but it can take longer if you fight the case or negotiate alternatives. Act fast – once the bank files a lawsuit, time runs out quickly.

How can a Pre-Foreclosure Specialist help me?

We help homeowners:

• Avoid Foreclosure by exploring alternatives and different options
• Negotiate with Lenders for loan modifications or short sales
• Understand your rights and timelines in the foreclosure process
• Giving resources at their time of need: Food or possible immediate money
• List traditionally if there is equity
• Sell quickly at fair market value to escape the foreclosure

How fast do I need to act in Pre-Foreclosure?

Time is critical!!! The sooner you act, the more options you have. Each state has different foreclosure timelines, but delays can limit your ability to sell or negotiate.

** When these options does not apply to your situation we have specialty options that we can walk you through. **

If I want to sell my house, will selling the house in Pre-Foreclosure hurt my credit?

Yes, but hurts your credit less than the house going through the full foreclosure. Because there was missed payments, credit will be harmed. But a pre-foreclosure sale (traditional sale or short sale) typically impacts your credit score less severely than a foreclosure, allowing you to recover faster.

If need be, you have 3 options on how to sell:

1. Traditional Sale – If you have equity, can sell for market value
2. Short Sale – If underwater, the bank may accept less owed.
3. Cash Sale – Fast close (7-14 days) if time is critical.

• We specialize in helping homeowners choose the best option for their situation.

What’s the difference between a traditional sale and a short sale?

• Traditional Sale: If the house has equity, can sell the house for at least the amount owed on the mortgage or possibly more.
• Short Sale: The lender agrees to let you sell the house for less than the current mortgage balance. (if you are underwater or upside down on the loan) This requires lender approval but can prevent foreclosure.

Will I lose all my equity if I sell in Pre-Foreclosure?

If you have equity, a traditional sale lets you keep any proceeds after paying off the mortgage and what is owed from missed payments. If you are underwater or upside down, a short sale may be the best way to avoid further financial damage.

Will I owe money after a foreclosure or short sale in Florida?

• Foreclosure: Florida allows deficiency judgements, meaning the bank can sue for the remaining debt
• Short Sale: You can negotiate a waiver of deficiency (We help you with this!)
• Strategic Default? Consult an Attorney- Florida banks can pursue collections (We work with trusted Bankruptcy Attorneys if needed however – Bankruptcy is a last resort – We will help you explore better alternatives first!)

Do I need to pay upfront fees for your help?

No reputable Pre-Foreclosure Specialist should charge you upfront fees. We provide free consultations to assess your situation just for benefit of helping you escape Foreclosure. If selling the house is the option you choose, we have real estate agents who work on a commission basis after the sale. If a short sale is an option, then it is no cost to you.

---