Caroline Secor PA

Foreclosure Attorney Pasa Grill

In general our nation's housing market has been, over the last few years, in turmoil. Gone are the days when a home can be resold in just a matter of months, while turning a significant profit. During this housing boom time, the mortgage industry engaged in what might be termed a "feeding frenzy". Often lenders did not thoroughly check on the financial status of those applying for loans. There were also many who doctored, without the applicant's knowledge, the loan applications. This was done to make the applicant appear more credit worthy. Loan originators made huge amounts of money by approving loans well beyond the normal reach of many applicants. Expensive homes were purchased, sometimes with a very small down payment, and now they are worth considerably less.

Complicating things even more was the fact that the downtrend in our housing industry affected the health of our overall economy. As a result of this depression, many have lost their jobs or have had to accept lower pay. Small, as well as large, businesses have had to cut staff as their sales decreased. These are the major reasons that so many of our neighbors are threatened with foreclosure.

Prior to deciding what Florida Foreclosure Defense tactic to employ, you should acquire at least a basic understanding of Florida Foreclosure Laws.

Florida Mortgage and Foreclosure Law Primer

  • As in most states, Florida is a "Lien Theory" State whereby the property in question is the security for the loan. The "Mortgage" is considered the lien on the home and property.
  • Florida law requires the use of "Judicial Foreclosure", that is, all foreclosures are under the supervision of the courts.
  • The lender begins the foreclosure proceedings by filing a "Foreclosure Complaint" with the Circuit Court.
  •  The filed Foreclosure Complaint must be accompanied with a "Lis Pendens". This is proof or documentation that public notice has been given on the pending foreclosure.
  • The time frame for a Florida foreclosure is dependent upon the court's schedule. In Florida the process normally takes from 180 to 200 days for an uncontested foreclosure. The schedule can be stretched further if the borrower contests the foreclosure, files for delays or files for bankruptcy.
  • Florida has a "Right of Redemption" Statue which allows a foreclosed home owner to reclaim his property by paying the full amount due plus costs. There is a time limit to invoke redemption.
  • Florida has a "Deficiency Judgment" provision which can be invoked if the property is sold at auction for less than the balance owed. If this is the case, the homeowner will be held responsible for any shortfall.

If you are facing foreclosure, call our office today for a free consultation.

Carolyn Secor


The federal government passed new bankruptcy reform legislation in October 2005. However, don't be discouraged! Most studies indicate that the new law affects less than 15% of individuals who could have filed previously. If you are feeling overwhelmed by your debts and considering filing bankruptcy, it is highly probable that you fall into the category of the 85 percent of people who are still eligible to file.




"Serving Pinellas, Pasco, and Hillsborough Counties."

Carolyn Secor, Attorney at Law
Bankruptcy Attorney Tampa Bay Florida
Florida Law Firm with Offices in
Clearwater (Main Office) Tampa St. Petersburg Port Richey
Phone:  1-727-254-1704

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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