What is the best way to delay foreclosure on a rental house? Has anyone contested it or know how to do it?

Question

I am looking for information on how to contest a foreclosure in the state of Florida.

Answer 1

are you the owner or the tenant?

the bank wants money. if youre the owner you eventually have to pay but an attorney may be able to delay the process.

the bank wants money. if youre the tenant you may be able to work a deal with the bank to stay in the house and assume the mortgage once the foreclosure is final. or you may be able to simply buy it from the owner causing the bank to volunteer delaying the process to allow the purchase.

the bank wants money.

Answer 2

Today there is only one way. Declare bankruptcy. It stops the foreclosure for 6 months.  But you still have to move out in 6 months and now you lose almost all your assets.  If you just had the foreclosure you would have only lost your house.

Some people hired an attorney to find out if the bank who foreclosed was really allowed to do the foreclosure.  The law is that the bank must show that they owned the loan.  Well, it turned out that they had sold the loan in 10 parts to 10 different banks.  The judge said they had to re-assemble the loan back into 1 loan with zero parts before they could foreclose.  The judge let the people move back into the house during the court case. /

Answer 3

I live in Tampa and I have been stalling the foreclosure process for almost 2 years. First, after you have not paid for 3 months call your mortgage company. Tell them that you are trying to sell the house. Make sure it really is listed. Don't worry, in Tampa nothing is going to actually sell. You can stall them for several months this way. Just when their patience runs thin tell them that you have some offers but they are much lower than what you owe. This may actually happen. Either way this buys you a few more months while they consider taking less. Finally you will get served. You must file a response within 20 days. You can hire a lawyer or do it yourself. Ask for an extension. Explain that you are this close to selling. Each time you get served file another extension. Eventually there will be a Summary judgment. Don't let this scare you. It is just something that says that they can attach legal fees to the amount. Don't bother showing up for this one. It take 2 minutes and you will lose. Really the fees are not very high anyway and they are never going to collect. Finally there will be another summary judgment where they get a sale date. At this time you have 40 days to vacate the property.

Believe me, the courts are so backed up in Florida that you can live in your house for about 2 years before they actually get possession.  If it is your primary then maybe even longer is you get a good lawyer.  

Answer 4

You say you want to "contest" a foreclosure. On what grounds?

In most states (all, as far as I know), foreclosure is "contestable" at multiple steps along the process. If, for instance, you can show that you have made the payments, the foreclosure can be stopped. Every document you receive allows you to contest it.

If you simply mean that you want to delay the foreclosure--and the foreclosure is legitimate--that's another question entirely. And that's very difficult to do. You can avoid foreclosure by selling the property, or making up the delinquencies. Or by renegotiating the loan. Or asking for forebearance.

You may be able to delay it by declaring bankruptcy. However, as part of the bankruptcy proceeding, you'll be expected to resume payments on the property. If you can't do that, the foreclosure process begins again.

Check with a lawyer for more details.

Answer 5

Don't listen to filing bankruptcy!  You will ruin your credit for much longer.  Is it already in foreclosure? What is the outcome you want? Keep it or give it up eventually?  I am in this situation and have held off for 8 mos now. I'm not trying to shaft anyone, I'm just trying to work out the best solution for me, which is working with someone to get the properties out of my name by whatever means, and part of that for me has been slowing dow the foreclosure process.  I can help you contest it.  Contact me for details.