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Staying in your house following foreclosure?

On Behalf of | Jan 5, 2021 | Foreclosure Defense |

When you get the notice about your house going into foreclosure in Florida, you might be scrambling to find a new place to live. Fortunately, you might have some time before you’re officially evicted from the house. Depending on the situation, that time can range anywhere from a few months to a few years.

How long can you stay in your house after foreclosure?

Typically, you’ll be allowed to stay in the house until it’s officially sold to a new owner. If the lender finds another buyer right away, you might have to leave within 30 days. If the lender has trouble finding a buyer, however, you might be able to stay for months or even years before you’re officially kicked out.

During this time, you could launch a foreclosure defense case that may allow you to keep the house. An attorney could help you stay in the home as long as possible and negotiate with the lender to figure out a new payment plan. You might be able to stay if you can get your payments back on track.

Some states also offer “redemption periods” where you can buy back the house after another buyer purchases it. However, you might have to pay the entire price of the house in full. This can be difficult if you were already struggling to make the mortgage payments.

How can you launch a foreclosure defense case?

An attorney could help you defend your rights during a home foreclosure. You might be able to keep your house and negotiate a better payment plan that fits your financial situation. If you have a rental property, your attorney could help you continue to earn rent during the foreclosure case. If you can’t save your house, your attorney could help you protect yourself from the bank after the house has been seized.