You reached the point where you were no longer able to make your monthly mortgage payments because of a change in your financial situation. Months later, maybe even almost a year later, you were served with a foreclosure complaint and you are now one of the thousands of Floridians facing a Florida Foreclosure Lawsuit. All this comes after numerous failed attempts to obtain a loan modification that would allow you to keep your home.
However, while defending the foreclosure action in the court system, you finally obtain the loan modification you have been begging for. You see the light at the end of the tunnel and feel some much needed relief. Do not get too comfortable just yet. The loan modification you have entered into is probably a trial modification in which you are to make monthly payments for approximately 3 months and then a final modification will be considered. You are ok with this because you really want to keep your home.
However, if you are already in foreclosure, the bank may still be pursuing the foreclosure case on your home during the trial modification period. This may be due to a huge lack of communication. The bank's right hand (legal department) may have no idea what its left hand (modification department) is doing. Even though the different departments are within the same company, they may rarely communicate with each other.
In your circumstance, the loss mitigation department that approved your trial loan modification most likely has not and will not communicate you are performing on a trial modification to the department/law firm pursuing the foreclosure. Therefore, the law firm handling the foreclosure action has no idea you have entered into a trial modification and will continue litigating the foreclosure, leading to a final judgment of foreclosure being entered before your trial modification is over.
So what can you do? You could file a stay with the court. The stay should point out that you have entered into a trial loan modification with the Plaintiff and, as such, you request the court to stay all further proceedings in the foreclosure action until the trial loan modification has ended and you have been considered for a final modification. This may prevent the foreclosure action from moving forward.
It is can be extremely difficult to navigate a foreclosure alone. If you are facing a Florida Foreclosure Lawsuit and have been offered a trial loan modification, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Defense Lawyer today for a complimentary consultation to determine what foreclosure options may be available to you.
