A knowledgeable and experienced foreclosure attorney must have an deep, working knowledge of Florida foreclosure laws to provide competent legal counsel. Under Florida law, foreclosures are “judicial,” meaning that the only way for the lender to foreclose on the property is for the lender to file a lawsuit. In this sense, borrowers in judicial foreclosure states like Florida (as opposed to non-judicial foreclosure states) are afforded considerably more protection. People or businesses that take out a loan to purchase property in Florida will typically sign a mortgage and a promissory note. The mortgage is the security instrument which gives the Lender the power to institute foreclosure proceedings when the borrower goes into default on payment. The promissory note is the the “I Owe You” which delineates the borrower’s obligation to repay the loan and the terms of such repayment. Foreclosure is the legal process by which a lender exercises its right to obtain a judgment to sell the property that is the subject of a mortgage at a judicially ordered foreclosure sale to satisfy the borrower’s default on the terms of the loan. When a borrower fails to make a loan or mortgage payment, the borrower is deemed to be in default of the mortgage and note. After the borrower goes into default, the lender will institute foreclosure proceedings in the Court in which the real property is located. The foreclosure process is different from state to state.
As South Florida foreclosure lawyers with more than 45 years of combined experience in real estate law, bankruptcy law and commercial litigation, the foreclosure lawyers at Edelboim Lieberman Revah Oshinsky PLLC stand ready to deliver skilled legal representation to Lenders and Borrowers alike in Florida foreclosure proceedings.
Our foreclosure attorneys know how to navigate foreclosure lawsuits to maximize the benefit to our clients. Whether you are a homeowner facing foreclosure and want to know how to save your home, or a Lender attempting to foreclose on a borrower that is in default, we can provide the effective legal counsel you need. To learn more about judicial foreclosures in Florida, check out this free legal resource.