Are you behind on your mortgage payments or already in foreclosure? If so, the new foreclosure law just signed by Governor Rick Scott is something that should not be ignored. The new law is designed to fast track home foreclosures and close out homeowner rights much more quickly than the previous law. Under the new law, which takes effect immediately, mortgage companies and homeowner’s associations can file a “show cause order” soon after the foreclosure case is filed. The show cause order essentially shifts the burden of proof to the homeowner to show why the bank should not be allowed to take their home. Foreclosure cases that had been taking well over six months in many cases, are expected to process through the system with much greater speed.
If you want to keep your home and your mortgage company is not working with you to get the payments caught up, contact a qualified attorney right away. A Chapter 13 bankruptcy will force the bank to accept regular payments together with a cure (catch up) payment. In some cases, a modification of the mortgage payment may also be achieved.