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GRAZI & GIANINO, LLP
ATTORNEYS AT LAW
The mortgage foreclosure and foreclosure defense lawyer (real estate lawyer)at Grazi & Gianino have been assisting in the processing and defense of mortgage foreclosures for many years. Our foreclosure attorney has helped many people in Stuart, Port Saint Lucie, Fort Pierce, Jensen Beach, Palm City, and the surrounding areas.
Mortgage foreclosure can be a very stressful undergoing, but the foreclosure attorney at Grazi & Gianino can help relieve a lot of that stress. Just understanding the process can help, and we can assist you with that and with foreclosure defense that will protect your rights in the process.
The first thing to know about a mortgage foreclosure action, is how it generally works. The following is the general life of a real estate foreclosure case:
The first step in a real estate foreclosure suit is the filing of a lis pendens. A lis pendens is recorded in the public records putting the public on notice that a lawsuit has been filed against you. After your lender files the lis pendens and the complaint, a process server will serve you with the lis pendens, the complaint and a summons. The summons will detail your rights and responsibilities regarding the lawsuit that has been filed against you.
Once you are served with the summons, you typically have 20 days from the date of service to answer the complaint. An answer is your opportunity to respond to the complaint and assert your legal defenses. It is very important that you answer and raise all possible defenses. Failing to answer will not only expedite the foreclosure process, but it may also waive any defenses that you may have to the real estate foreclosure lawsuit.
If you have not filed an appropriate answer within the provided period, your lender will request the clerk of court to enter a default against you. A default means that you are forfeiting your right to present arguments against foreclosure.
After obtaining a default, your lender will request a summary judgment hearing. Summary judgment means that there are no material issues in the case, and that the judge should rule based on the law. Summary judgment hearings are generally the last opportunity you have to be heard.
The judge will enter a final judgment and specify the exact amounts owed to your lender, including principal, interest, attorney fees, expense, and court costs. At this time, the judge will also set a foreclosure sale date. The foreclosure sale is the last step of the real estate foreclosure process. Generally set for 30-45 days after the final judgment, the foreclosure sale is when your property is auctioned off to the highest bidder.
Once the property is sold at auction, the clerk of court will enter a certificate of sale and serve a copy to each party. The certificate of sale tells the homeowner or resident that the property has been sold and provides them with the name of the new owner.
If there are no objections to the sale within 10 days of filing the certificate of sale, the clerk will issue a certificate of title. It is only when the certificate of title is filed that the sale is confirmed and title to the property passes to the purchaser.
If you or your company is in need of legal advice and/or representation for a real estate foreclosure matter in Stuart, FL or Martin County, Fort Pierce and Port St. Lucie or St. Lucie County, Vero Beach or Indian River County, Okeechobee or Okeechobee County, West Palm Beach or Palm Beach County, or surrounding areas, please call the Stuart, Florida mortgage foreclosure attorney (real estate attorney) of Grazi & Gianino now at (772) 286-0200.
About Mortgage Foreclosure.
The current foreclosure crisis and economic downturn has caused millions of homeowners throughout the country to default on their mortgages and has forced their lenders to foreclose on their mortgages. This has caused its own drag on the economy and is preventing the economy from making the recovery that it will eventually make.
So what should one do when faced with a foreclosure threat from their lender? The first thing, and probably the most important is to gain knowledge. The easiest way to do this is to contact an attorney knowledgeable in the area. Knowing your rights and the risks relating to the various options available is essential to making informed decisions and making an informed decision is always the best way to make any decision.
So what options are available? There are too many to list in this article, but contacting your attorney for counsel is the first preferred option. The biggest concern is always whether the property is an investment or the owner's primary residence. Topics to discuss are whether a loan modification is available, whether a Deed in Lieu of Foreclosure is an option to pursue, would a short sale or short pay be an option desirable to both the owner and the bank, or whether the foreclosure should be defended and litigated.
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|Peter T. Gianino|
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|Ryan S. Grazi|
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