When financial burdens strike – it can be devastating. Not only does it affect your morale, but it can hinder your ability to pay the most necessary of bills: your rent. In an attempt to save yourself from eviction, you go down to the property manager’s office to make a partial payment. Horrifyingly, they refuse to take your late payment. Can they actually do that?

The simple answer is, yes, they can.

They are allowed to refuse payment if you cannot produce the allotted amount. If you are unable to pay the full amount owed – at the time that it is due – you cannot force them to settle and accept less than the complete balance. When you signed your lease, you entered into a legally binding contract that states you will pay said amount by said date. If you violate these terms, they have the right to begin the eviction process.

If you are able to pay the balance in full, you will need to do so to avoid facing eviction. In some states, especially if you have a track record of late payments or bounced checks, the landlord and/or property management company can still pursue an eviction – even after the outstanding payment is paid – due to a violation of the lease terms. It is best to speak to the landlord directly to determine what course of action they will be taking regarding the late payment.

Reading over your copy of the lease may help answer any questions you have about what comes next. If you cannot find the answers in the pages, consulting a lawyer with experience in this area would be another avenue to explore.

Stephen K. Hachey, a Florida foreclosure attorney, can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

The foreclosure process comes with a lot of different actions, paperwork, and notices. For the average person, all the paperwork and hearings can be confusing – and at times, frustrating. One of the actions that you may see during the course of your foreclosure is the judicial default. Technically speaking, the definition of a judicial default is, “a binding judgment in favor of either party based on some failure to take action by the other party. Most often, it is a judgment in favor of a plaintiff when the defendant has not responded to a summons or has failed to appear before a court of law,” according to the online foreclosure glossary.

A judicial default, simply put, is a default issued by a judge.

What does a judicial default mean for you? A default judgment, when in regards to mortgage defaults, can end a foreclosure case, allowing the sale of the defendant’s house or property in a public auction. Typically, you will receive a 10 to 30 day notice of the lender’s (your bank/mortgage company) aim to file the foreclosure action with the court. You have a period of 20-30 days from the date of the notice to react. Depending on your response, the process could take anywhere from 30 days to several months to be completed. Most likely, you’ll have a minimum of two months from the first notice to the date of the sale. However, if you contest this process, expect the amount of time to double.

Stephen K. Hachey, a Florida foreclosure attorney, can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

You worked hard to be able to purchase that home or condo. You sign your papers, you move in… And then tragedy strikes. You get sick, injured, or suffer the hit of cut-backs at work. You’re unable to pay your home owners association fees, and before you know it, you’re missing mortgage payments. Then it comes – the foreclosure notice.

So what happens next?

Foreclosures and Home owners association debts are not one-size fits all. The next stage in the process depends on who handles the fees owed to the home owners association. If you are trying to keep your home or condo, you will want to settle the fees yourself, to prevent anyone else – such as the HOA – from being able to take ownership by filing for a lien. If saving your home is not an option – and the foreclosure stands – there are two things that could happen next. If the bank pays the home owners association’s fees, then that amount will be added to the Deficiency Judgment filed by the bank after the foreclosure sale takes place. This is the most likely situation, as the bank will need to pay the fees in order to obtain a clear title from the Association. In the second scenario, the Association can file a suit for foreclosure and take possession of the property through a lien.

Every situation in the foreclosure process is different and it’s hard to say exactly how your case will be handled. In these circumstances, it is best to consult with a local, experienced real estate attorney that specializes in foreclosures. A qualified professional will be able to walk you through the process and make sure you are fully protected during the course of the foreclosure.

Stephen K. Hachey, a Florida foreclosure attorney, can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

Having to endure the foreclosure process can be a difficult experience. You’ve had to relinquish your home, find new lodging, and tolerate months of paperwork and phone calls from the bank. Just when you think it’s all over, suddenly you hear the term deficiency judgment. A deficiency judgment is a judgment against a borrower whose mortgage foreclosure sale did not make enough money to cover the underlying promissory note.

So, what does this mean for you? You, the borrower, could possibly owe money after your foreclosure process is over. If the bank cannot sell the house for enough money to cover what you borrowed to purchase it, then they can come after you for the remaining balance.

If your loan was sold to a servicer, or a debt-collector, you may still find yourself facing a deficiency judgment. Regardless of the bank name listed on the court documents, they are still in good standing to collect the judgment against you. If you owned a condo, there are some differences – but the ultimate responsibility will still fall to you. The condo association – or trustee – will be named as the owner of the property, however you will be entitled as the borrower; putting the financial obligation on your shoulders.

If you are facing foreclosure, or have already begun the process, it is best to seek out an experienced lawyer. They will be able to foresee any liabilities you may still have to a HOA or condo association, negotiate a waiver to the deficiency claim, or defend you against a claim that has been already filed.

Stephen K. Hachey, a Florida foreclosure attorney, can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.