His years of experience in real estate law have given him the confidence to counsel people who are facing foreclosures. A brief interview with him revealed some amazing facts that a loan borrower must know. Here are the questions answered by Tim:
What is foreclosure?
Foreclosure is the process in which a lender (bank, Mortgage Company, etc.) is legally allowed to claim a piece of property as a result of non-payment on a loan. This most commonly occurs when a homeowner is unable to pay his mortgage.
The state of Florida has a judicial foreclosure process. This means that mortgage companies must file a lawsuit in order to redeem their collateral (your house). In the end, your home may be sold at a public auction to the highest bidder. If no one bids on the house, the bank will take possession. In either case, you will be evicted from your home and forced to live somewhere else.
How long do I have before I lose my house?
There are many different steps the lender must go through, and the entire foreclosure process can be unpredictable in terms of timing. However, you will begin receiving legal notices from the courts after your last mortgage payment. DO NOT ignore these letters – contact us immediately to find out how you can save your home. At our office, no matter how long it takes, we offer a flat fee so you don’t have to fear any additional costs.
What happens if I cannot pay my mortgage?
Typically, your lender will send a handful of nasty letters that demand payment. They may also advise you to call them if you have any questions or concerns. However, many homeowners completely ignore these letters. This is the last thing you should do.
If you have already received these types of letters, you should call us immediately. If you do not find a solution soon, your lender may begin the judicial foreclosure proceedings.
You can get answers to all your questions by visiting to the FAQ page of Tim’s website. The 2nd and 3rd part of the interview will soon be published in the coming few days.
About Law Office of Timothy McCabe:
Law Office of Timothy McCabe, Florida's foreclosure specialists, offers flat fee foreclosure defense rates. It is dedicated in protecting the Rights of Florida residents throughout Miami Dade, Palm Beach & Martin Counties. Contact (888) 679-3435 for free consultation.
For more information on ‘Law Office of Timothy McCabe’ visit:
Phone: (888) 679-3435