When a Property Owner of a Foreclosed House has Roommates, are Their Rights the Same as the Owners?
It is an unfortunate reality that many individuals have had to go into foreclosure as a result of the economic downturn. Some people have been successful at paying down their mortgage by renting out extra rooms to increase cashflow. However, sometimes it is not enough and the property still goes int ...
Can You Lose Your Deposit on a Residential Lease on a Foreclosed Property?
The current real estate climate, with owners becoming tenants and banks becoming landlords, can be rife with complicated situations and shifting loyalties. It can be extremely difficult to find out what your rights are. If you were leasing a property that was subsequently foreclosed, your obligation ...
How Much Notice is Required to Remove a Month-to-Month Tenant if a Landlord Sells the Rental Property?
The dynamics between tenants and landlords can be intricate, especially when properties change hands. In Florida, the regulations surrounding eviction notices for month-to-month tenants when a landlord sells the property are specific. The short answer is a notice of 15 days. That said, there are imp ...
Are HOA Legal Fees Directly Chargeable to the Owner Fighting a Foreclosure in Florida?
According to Florida law, HOAs are entitled to any late fees, interest accrued and even attorney fees incurred as a result of past due assessments whether or not the association filed a foreclosure suit against you. If your lender forecloses on your home or condo, they can declare your associatio ...
Can You Lose Your IRA if You Are in Foreclosure in the State of Florida?
A deficiency judgment occurs when a foreclosed home sells for less than the balance owed on the mortgage loan; in the state of Florida, your lender has the legal right to file suit against you in order to garnish your financial assets and recover the difference. If you are facing foreclosure, you ma ...
Should I File for Bankruptcy if a Mortgage Insurance Company Sends me a Deficiency Letter After my Home Was Foreclosed?
After a foreclosure, you may be surprised to find that the nightmare is far from over, but if your mortgage lender is unable to recover their entire loan balance after a foreclosure sale, you’re still very much along for the ride. A deficiency occurs when a mortgage lending institution is unable ...
Are Blank Endorsements Enforceable in the State of Florida?
If you’re facing foreclosure, you may be wondering whether your lender does in fact have a claim to your property based on poorly or wrongly executed negotiable instruments such as a mortgage Note. Most often, individuals wrongly presume that a blank or unsigned endorsement makes their Note unenfor ...
The Protecting Tenants in Foreclosure Act Explained
The Protecting Tenants in Foreclosure Act took effect on May 20, 2009 to protect tenants from eviction because of foreclosure on the properties they occupy. This Act applies to cases of foreclosure on a “federally-related mortgage loan, any dwelling or residential real property.” Under the Protec ...
Does Florida have a Rent Control Ordinance that Caps How Much Rent can Increase from Year to Year?
Rent control is a topic of interest for many tenants and landlords alike. It refers to laws and regulations that dictate how much a landlord can increase the rent charged to tenants. While cities like New York are renowned for their rent control systems, the situation in Florida is different. Let's ...
What Does Writ of Possession Mean?
Updated: 6/2/23 A Writ of Possession is a court order that grants full possession of tangible property (usually a dwelling such as a house or apartment) back to the owner or landlord. It’s usually granted after the landlord wins an eviction lawsuit against a tenant. Common reasons for eviction la ...
