Search Wellington
Foreclosure is a legal action used by a mortgage company to recover any money from a customer when the customer does not pay his or her debt in accordance with the mortgage agreement. In other words, it's the legal remedy used by a mortgage company to assume ownership of a property when the required loan payments are not made.
1. Understanding your financial condition is critical
If you don't have a complete understanding of your financial condition, it is recommended that you go through the credit counseling process. To talk with a HUD-approved housing counselor, call the HOPE NOW Alliance at 888-995-HOPE (4673).
2. If you are in the foreclosure process
If your lender has started foreclosure proceedings against you, then you need to take the following action steps:
- You must respond to legal papers that have been served to you.
- You can’t ignore them.
- Get legal assistance.
3. If your foreclosure was filed on or after Dec. 1, 2008, understand the foreclosure process established in the 12th Judicial Circuit within Florida.
Notice to homeowners facing foreclosure
The Twelfth Circuit Homestead Foreclosure Conciliation Program is intended to foster communication between lenders and homestead owners to arrive at options to foreclosure litigation. This is a key opportunity to take important action to work out the loan with your lender.
