Why is a Tenant Listed as a Defendant in a Foreclosure Lawsuit in FL?
When a lender brings a foreclosure action against a property owner in Florida, that lawsuit covers anyone and everyone who might also have a claim to the property. If you are living in a home that is being foreclosed on, the bank may include you as a defendant not because you will owe them any money ...
What is HAFA?
When homeowners realize they cannot keep up with their mortgage payments, and loan modification is not an option, there are still ways to avoid foreclosure. Thanks to the Home Affordable Foreclosure Alternatives program (HAFA), homeowners can work with their banks on other ways out of the property ...
What is HAMP?
The Home Affordable Modification Program, affectionately called HAMP, is a federal program passed in 2009 to help homeowners stay in their homes. This program was enacted in order to stem the alarming rate of foreclosures in the nation. With house values falling below what most people owe on their ...
Is a Tenant Obligated to Pay Rent to an HOA if Owner is Delinquent on HOA Dues in FL?
When you are renting a property and your landlord becomes delinquent with HOA fees in Florida, you might be worried that the HOA will foreclose on the property you are living in. This is a real and frightening possibility. However, it does not mean that you are entitled to stop paying your rent. As ...
Can an Unsecured Creditor Place a Lien on a Homestead Property in FL?
If you live in Florida and you have unsecured creditors hounding you for payment, you are protected from having your home foreclosed on so that payment to them can be made. Those creditors are legally able to put a lien against your property, but you will not lose it to foreclosure. The Florida Stat ...
What is a Special Warranty Deed in FL?
What is a Special Warranty Deed? A special warranty deed is a legal instrument used in real estate transactions that provides the buyer, or grantee, with a guarantee from the seller (grantor) against any legal issues or claims against the property that arose during the time the seller own ...
What is the Difference Between Signing a Mortgage and Signing a Promissory Note in FL?
Updated: 6/2/23 Real estate terms and words can become confusing, but it is important to know what you are talking about when you enter into a real estate transaction. In Florida, you might be signing a mortgage or a promissory note. Make sure you know the difference before you sign, because it c ...
What is a Quit Claim Deed?
A quit claim deed is a legal transaction that allows the owner of a piece of property to immediately transfer ownership to another party. The term describes the owner “quitting” his or her rights to the property. The party gaining ownership to the real property does not get any warranties as to the ...
What is a Motion for Summary Judgment in a Foreclosure in FL?
In a Florida foreclosure action, a motion for summary judgment is typically filed by the lender, asking the judge to decide the case in favor of the lender immediately. This would provide the bank to take control of the property without a lengthy trial. In order to be heard in court and allow all th ...
Are Lenders Required to Foreclose on Properties After Bankruptcy in FL?
Lenders in Florida are not required to foreclose on property after a bankruptcy is filed. In fact, if you are in danger of losing your home and you want to keep it, filing for bankruptcy right before the foreclosure is a good way to keep your home, at least until the bankruptcy is discharged. Many F ...
