{"id":15,"date":"2019-07-17T14:21:26","date_gmt":"2019-07-17T14:21:26","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=15"},"modified":"2022-07-22T13:50:46","modified_gmt":"2022-07-22T13:50:46","slug":"what-is-a-pre-foreclosure-in-florida","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/what-is-a-pre-foreclosure-in-florida\/","title":{"rendered":"What is a Pre-Foreclosure in Florida?"},"content":{"rendered":"\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" class=\"wp-image-16\" src=\"https:\/\/phphouses.com\/blog\/wp-content\/uploads\/2019\/07\/Foreclosure-For-Sale-House-1024x683.jpg\" alt=\"\" srcset=\"https:\/\/phphouses.com\/blog\/wp-content\/uploads\/2019\/07\/Foreclosure-For-Sale-House-1024x683.jpg 1024w, https:\/\/phphouses.com\/blog\/wp-content\/uploads\/2019\/07\/Foreclosure-For-Sale-House-300x200.jpg 300w, https:\/\/phphouses.com\/blog\/wp-content\/uploads\/2019\/07\/Foreclosure-For-Sale-House-768x512.jpg 768w, https:\/\/phphouses.com\/blog\/wp-content\/uploads\/2019\/07\/Foreclosure-For-Sale-House.jpg 1254w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\r\n\r\n\r\n\r\n<p>With millions of homes across the country going into foreclosure, it\u2019s important for both buyers and mortgage holders\u00a0to understand the process.<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">So what is a pre-foreclosure in\u00a0Florida anyway?<\/h2>\r\n\r\n\r\n\r\n<p>Many homeowners across America are facing difficulties making their monthly mortgage payments.<\/p>\r\n\r\n\r\n\r\n<p>When\u00a0a homeowner misses 3-6 months of mortgage payments, the lending institution will issue a warning, notifying the\u00a0homeowner to pay or lose their home.\u00a0If a homeowner fails to make the necessary payments, the bank will file an action to foreclose on the home in the court. Thankfully, during this stage of the process, a mortgage holder has the opportunity to\u00a0take advantage of several options to prevent losing their home.This period is known as \u201c<em>pre-foreclosure<\/em>.\u201d<\/p>\r\n\r\n\r\n\r\n<p>Banks and mortgage lenders typically\u00a0provide\u00a0<em>three months<\/em>\u00a0for the homeowner to become current before they go to court and file the action to Foreclose on the property. \u00a0Of course this number can vary by bank and situation sometimes.<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">Pre-foreclosure Options for Borrowers<\/h2>\r\n\r\n\r\n\r\n<p>If you\u2019re behind on mortgage payments, you\u2019re likely to receive a \u201cnotice of default\u201d from your mortgage lender.<\/p>\r\n\r\n\r\n\r\n<p>This\u00a0document will state that you have not made mortgage payments for the last 90-180 days.\u00a0<strong>It\u2019s important not to panic<\/strong>.<\/p>\r\n\r\n\r\n\r\n<p>You have options that can delay or even prevent losing your home:<\/p>\r\n\r\n\r\n\r\n<ul>\r\n<li>If your mortgage is \u201cabove water,\u201d<em>\u00a0(meaning you have equity in your house)<\/em>\u00a0you may be able to refinance your mortgage, receiving lower monthly payments. \u00a0Check with your local mortgage broker\u2026 or\u00a0<a href=\"https:\/\/phphouses.com\/contact.html\" target=\"_blank\" rel=\"noreferrer noopener\">contact us<\/a>\u00a0and we can connect you with a reputable one.<\/li>\r\n<li>You may be able to quickly\u00a0<a href=\"https:\/\/www02pottstownhomebuyer02com159oasx2.mediamonitoring.report\/\" target=\"_blank\" rel=\"noreferrer noopener\">sell your home to a real estate investor<\/a>\u00a0that\u2019s reputable in\u00a0Central Florida like us at\u00a0PHP HOUSES LLC, using the cash acquired to pay the months of\u00a0back-payments owed (or we *may* be able to work out something with the lender that relieves all or part of your back payments.\u00a0<a href=\"https:\/\/phphouses.com\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">We\u00a0can buy your Central Florida area home<\/a>\u00a0quickly, often in just a week or two,\u00a0will pay in\u00a0cash,\u00a0and takes the stress out of trying to find a buyer.<\/li>\r\n<li>You can contact the bank and ask them to permit a short sale. In a short sale, you\u2019ll sell your home for less than\u00a0it\u2019s worth, and the bank will take the loss as a tax write-off. \u00a0In some short sales you may still be required to pay the difference to the bank if the house doesn\u2019t sell for what is owed on the loan.<\/li>\r\n<li><strong>You may be able to declare bankruptcy<\/strong>, which can buy you time to pay your debt. Bankruptcy will remain on\u00a0your credit report for years, and can cause significant damage.<\/li>\r\n<li><strong>You may be able to Deed-in-Lieu your house<\/strong>, deed in lieu of foreclosure occurs when the homeowner deed the property to the lender to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to the lender\u00a0and some disadvantages to the\u00a0borrower.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>Lenders are very much aware of the widespread financial troubles across the country and they\u2019re willing to work with borrowers a lot of the time.<\/p>\r\n\r\n\r\n\r\n<p>If you\u2019re honest and\u00a0communicate with your lender, you\u2019ll often find that there are options that will allow you to remain in your home, or at\u00a0least salvage your credit rating.<\/p>\r\n\r\n\r\n\r\n<p>A foreclosure can often negatively affect your credit score by 200-400 points and can\u00a0prevent you from obtaining a loan of any sort for 5-7 years, so be very dutiful if you\u2019ve received a Notice of Default from\u00a0your lender.<\/p>\r\n\r\n\r\n\r\n<p>But if you\u2019re not able to find a solution with your lender working directly with them\u2026\u00a0<a href=\"https:\/\/phphouses.com\/contact.html\" target=\"_blank\" rel=\"noreferrer noopener\">connect with us.<\/a>\u00a0We may be able to help.<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">Ways We Can Help If You\u2019re In Pre-Foreclosure<\/h2>\r\n\r\n\r\n\r\n<ul>\r\n<li>We can potentially help with a short sale\u00a0\u2013 Submit your info on this website so we can evaluate your situation to see if we can help.<\/li>\r\n<li>We can buy your Central Florida area house\u00a0\u2013\u00a0<a href=\"https:\/\/www02pottstownhomebuyer02com159oasx2.mediamonitoring.report\/\" target=\"_blank\" rel=\"noreferrer noopener\">We buy houses\u00a0<\/a>in Central Florida\u00a0and would love to make you an all-cash offer on your house too. Just\u00a0<a href=\"https:\/\/phphouses.com\/index.html#sellhouseform\" target=\"_blank\" rel=\"noreferrer noopener\">fill out the form here to get started\u00a0<\/a><\/li>\r\n<li>You can ask us questions and we can provide you FREE guidance\u00a0and resources so you can make a well educated decision. This costs you nothing, there\u2019s absolutely no pressure, no obligation\u2026 just free guidance without a catch.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>If you\u2019re in the pre-foreclosure stage\u2026 you\u2019ve still got time to fix this situation.<\/p>\r\n\r\n\r\n\r\n<p>Just connect with your bank to see if they\u2019re willing to work with you\u2026 or contact us if you\u2019d like to see what we can buy your house for or to tap into our free foreclosure foreclosure resources.<\/p>\r\n\r\n\r\n\r\n<p><strong>Contact us:<\/strong><br \/>PHP Houses<br \/>142 W Lakeview Ave<br \/>Unit 1030<br \/>Lake Mary, FL 32746<br \/>Ph:\u00a0<span id=\"gc-number-1\" class=\"gc-cs-link\" title=\"Call with Google Voice\">(407) 519-0719<\/span><br \/>Fax:\u00a0<span id=\"gc-number-2\" class=\"gc-cs-link\" title=\"Call with Google Voice\">(407) 205-1951<\/span><br \/>email:\u00a0info@phphouses.com<\/p>\r\n<p><strong>Let\u2019s Connect:<\/strong><br \/><a href=\"https:\/\/www.facebook.com\/WeBuyHousesCentralFlorida\/\">Facebook<\/a><br \/><a href=\"https:\/\/www.linkedin.com\/in\/walter-diloreto-25403710\/\">Linkedin<\/a><br \/><a href=\"https:\/\/twitter.com\/WalterDiLoreto\">Twitter<\/a><br \/><a href=\"https:\/\/www.instagram.com\/wdiloreto\/\">Instagram<\/a><\/p>\r\n<h5 class=\"wp-block-heading\"><em>The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.<\/em><\/h5>\r\n<p>&nbsp;<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>With millions of homes across the country going into foreclosure, it\u2019s important for both buyers and mortgage holders\u00a0to understand the Pre-Foreclosure process.<br \/>\n <a class=\"continue\" href=\"https:\/\/phphouses.com\/blog\/what-is-a-pre-foreclosure-in-florida\/\">Finish Reading<span> What is a Pre-Foreclosure in Florida?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[15,10,18,16,49,42,23,40,533,532,63,20,495,28,54,47,19,6,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/15"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=15"}],"version-history":[{"count":4,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/15\/revisions"}],"predecessor-version":[{"id":2857,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/15\/revisions\/2857"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=15"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=15"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=15"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}