hoa fees bankruptcy
How long does foreclosure take?
I live in Florida, have a 30 year mortgage, have been trying to sell but no one is looking. I haven’t paid the mortgage since Jan. ’08, just got served with a summons saying that my lender has started the foreclosure process. I really dont have the funds to get a lawyer to file bankruptcy and have other debts as well, such as credit cards, overdue HOA fees. How long will the whole process take? I’ve heard that it depends on the state I’m in…just want to get an idea of how long it’ll take to actually get evicted.
Hopefully someone who knows the florida process will answer but the process for where I am is to serve the summons and go to court (about 25 days for this to get to court). At the court the foreclosure is allowed so this is scheduled to be sold on the courthouse steps (20 days to get to the steps). After teh courthouse sale the bank or new owner will begin eviction proceedings which involves another notice and a new court hearing (another 25 days for the next court hearing). If the court affirms the eviction the sheriff usually shows up in 2-3 weeks. So, about 3 months is a bare minimum – but again this is just where I am, where you are it may be done faster or slower. Also, if you do declare bankruptcy before the sale on the steps you can slow the things down for months and if you get a smart lawyer to contest everything (or even do it yourself) you can slow it down for that too. Still, eventually you will get evicted and it will kill your credit so be ready for that eventuality.
