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| Approved Team Lending |
| (866) 790-7883 |
| We have properties from Saint Lucie to Miami Dade Counties that are now under control of the banks. Whether you're looking for an investment, primary residence or an estate, now is the time to buy! Are you a Broker that has Short Sale, Bank Owned, Foreclosed, Distressed, Auction listings? Post your listing on this site for FREE and take advantage of the local exposure. We have prequalified buyers that are actively looking for properties in your coverage areas. For more information on these properties or a specific market area contact Lissette Cancio. 561-327-7147 ext. 101 or lissette@approvedteamlending.com |
Saint Lucie County - Port Saint Lucie, Fort Pierce - Martin County - Stuart, Hobe Sound - Palm Beach County - Jupiter,
Loxahatchee, West Palm Beach, Lake Worth, Wellington, Greenacres, Boynton Beach, Delray Beach, Boca Raton - Broward County -
Pompano Beach, Deerfield Beach, Fort Lauderdale, Coral Springs, Lauderhill, Sunrise, Lauderdale Lakes, Sawgrass, Weston, Bonaventure,
Davie, Pembroke Pines, Hollywood, Miramar - Miami Dade County - Aventura, Miami Lakes, Miami Gardens, Hialeah, Opa Locka, North
Miami, South Beach, Downtown Miami, Kendall, Homestead
Loxahatchee, West Palm Beach, Lake Worth, Wellington, Greenacres, Boynton Beach, Delray Beach, Boca Raton - Broward County -
Pompano Beach, Deerfield Beach, Fort Lauderdale, Coral Springs, Lauderhill, Sunrise, Lauderdale Lakes, Sawgrass, Weston, Bonaventure,
Davie, Pembroke Pines, Hollywood, Miramar - Miami Dade County - Aventura, Miami Lakes, Miami Gardens, Hialeah, Opa Locka, North
Miami, South Beach, Downtown Miami, Kendall, Homestead
FLORIDA FORECLOSURE LAWS
Pre-foreclosure Period
A foreclosure in Florida begins when a lender files court action and records a notice of a pending lawsuit (Lis Pendens) against the borrower.
The lender notifies the borrower and any other affected parties in person or in some cases by mail or publication. If the borrower does not
respond to the court action within a specified amount of time, the county clerk can find the borrower in default and the lender can ask the court
to make a final ruling. If the court rules against the borrower, the ruling will include the total amount owed to the lender and the foreclosure sale
date.
The lender is not required by state law to notify the borrower before initiating the foreclosure process, but individual mortgages or deeds of trust
might call for this. The borrower can stop the foreclosure up until the date of the sale by paying the total amount owed to the lender.
Notice of Sale / Auction
The sale date is typically 20-35 days after the court ruling, but this may vary depending on the individual court. The clerk of court issues a notice
of sale containing the location, date, and time of the sale. The notice is published once a week for two weeks, with the second notice appearing
at least five days before the sale.
The clerk usually oversees the sale, which ordinarily occurs at the county courthouse at 11:00 a.m. on the sale date. The winning bidder must
provide a 5-percent deposit and pay the remaining balance by the end of the day or a new sale is scheduled a minimum of 20 days later. After a
successful sale, the clerk gives a certificate of sale to the winning bidder.
Within 10 days of the sale, the clerk transfers ownership to the winning bidder if no one disputes the sale. In most instances, a borrower has no
right of redemption after the certificate of sale is issued.
If you're at risk of having your home foreclosed on, you should read our section on foreclosure help. You might still be able to stop foreclosure.
STOP FORECLOSURE IN FLORIDA
A foreclosure in Florida begins when a lender files court action and records a notice of a pending lawsuit (Lis Pendens) against the borrower.
The lender notifies the borrower and any other affected parties in person or in some cases by mail or publication. If the borrower does not
respond to the court action within a specified amount of time, the county clerk can find the borrower in default and the lender can ask the court
to make a final ruling. If the court rules against the borrower, the ruling will include the total amount owed to the lender and the foreclosure sale
date.
The lender is not required by state law to notify the borrower before initiating the foreclosure process, but individual mortgages or deeds of trust
might call for this. The borrower can stop the foreclosure up until the date of the sale by paying the total amount owed to the lender.
Notice of Sale / Auction
The sale date is typically 20-35 days after the court ruling, but this may vary depending on the individual court. The clerk of court issues a notice
of sale containing the location, date, and time of the sale. The notice is published once a week for two weeks, with the second notice appearing
at least five days before the sale.
The clerk usually oversees the sale, which ordinarily occurs at the county courthouse at 11:00 a.m. on the sale date. The winning bidder must
provide a 5-percent deposit and pay the remaining balance by the end of the day or a new sale is scheduled a minimum of 20 days later. After a
successful sale, the clerk gives a certificate of sale to the winning bidder.
Within 10 days of the sale, the clerk transfers ownership to the winning bidder if no one disputes the sale. In most instances, a borrower has no
right of redemption after the certificate of sale is issued.
If you're at risk of having your home foreclosed on, you should read our section on foreclosure help. You might still be able to stop foreclosure.
STOP FORECLOSURE IN FLORIDA
FLORIDA FORECLOSURE OVERVIEW AND PROCESS
What is Foreclosure?
Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession)
of the property securing the loan. The foreclosure process begins when a borrower/owner defaults on loan payments (usually mortgage
payments) and the lender files a public default notice, called a Notice of Default or Lis Pendens. The foreclosure process can end one of
four ways:
The borrower/owner reinstates the loan by paying off the default amount during a grace period determined by state law. This grace period is
also known as pre-foreclosure.
The borrower/owner sells the property to a third party during the pre-foreclosure period. The sale allows the borrower/owner to pay off the
loan and avoid having a foreclosure on his or her credit history.
A third party buys the property at a public auction at the end of the pre-foreclosure period.
The lender takes ownership of the property, usually with the intent to re-sell it on the open market. The lender can take ownership either
through an agreement with the borrower/owner during pre-foreclosure, via a short sale foreclosure or by buying back the property at the
public auction. Properties repossessed by the lender are also known as bank-owned or REO properties (Real Estate Owned by the lender).
This foreclosure process allows for three opportunities for finding bargains on foreclosure homes.
Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession)
of the property securing the loan. The foreclosure process begins when a borrower/owner defaults on loan payments (usually mortgage
payments) and the lender files a public default notice, called a Notice of Default or Lis Pendens. The foreclosure process can end one of
four ways:
The borrower/owner reinstates the loan by paying off the default amount during a grace period determined by state law. This grace period is
also known as pre-foreclosure.
The borrower/owner sells the property to a third party during the pre-foreclosure period. The sale allows the borrower/owner to pay off the
loan and avoid having a foreclosure on his or her credit history.
A third party buys the property at a public auction at the end of the pre-foreclosure period.
The lender takes ownership of the property, usually with the intent to re-sell it on the open market. The lender can take ownership either
through an agreement with the borrower/owner during pre-foreclosure, via a short sale foreclosure or by buying back the property at the
public auction. Properties repossessed by the lender are also known as bank-owned or REO properties (Real Estate Owned by the lender).
This foreclosure process allows for three opportunities for finding bargains on foreclosure homes.
FLORIDA PRE-FORECLOSURE
Buying a property in pre-foreclosure involves approaching the borrower/owner and offering to buy the property outright. The orrower/owner
can walk away with something to show for any equity in the property and avoid a bad mark on his or her credit history. The buyer has time to
research the title and condition of the property and can realize discounts of 20-40 percent below market value.
More about pre-foreclosures
Wondering what happens after foreclosure? Then please read on. Remember that understanding foreclosures is the first step for
homeowners to stop foreclosure. It is also the first step for investors to buy foreclosure properties.
can walk away with something to show for any equity in the property and avoid a bad mark on his or her credit history. The buyer has time to
research the title and condition of the property and can realize discounts of 20-40 percent below market value.
More about pre-foreclosures
Wondering what happens after foreclosure? Then please read on. Remember that understanding foreclosures is the first step for
homeowners to stop foreclosure. It is also the first step for investors to buy foreclosure properties.
FLORIDA AUCTION PROPERTIES
If the loan is not reinstated by the end of the pre-foreclosure period, potential buyers can bid on the property at a public auction. Buyers often
are required to pay in cash at the auction and may not have much time to research the title and condition of the property beforehand; however,
a public auction often offers some of the best bargains and avoids the unpredictability of dealing directly with the borrower/owner.
are required to pay in cash at the auction and may not have much time to research the title and condition of the property beforehand; however,
a public auction often offers some of the best bargains and avoids the unpredictability of dealing directly with the borrower/owner.
FLORIDA BANK OWNED REO
If the lender takes ownership of the property, either through an agreement with the owner during pre-foreclosure or at the public auction, the
lender will usually want to re-sell the property to recover the unpaid loan amount. The lender will then typically clear the title and perform
needed maintenance and repair; however, the potential bargain for these REO homes is typically less than a pre-foreclosure or auction
property. Bank foreclosures can become government foreclosures if the loan is backed by a government agency such as the Department of
Housing and Urban Development (HUD) or the Department of Veterans Affairs (VA). In that case the government agency would be responsible
for selling the property.
lender will usually want to re-sell the property to recover the unpaid loan amount. The lender will then typically clear the title and perform
needed maintenance and repair; however, the potential bargain for these REO homes is typically less than a pre-foreclosure or auction
property. Bank foreclosures can become government foreclosures if the loan is backed by a government agency such as the Department of
Housing and Urban Development (HUD) or the Department of Veterans Affairs (VA). In that case the government agency would be responsible
for selling the property.
| LOW LISTING |
City: Plantation
Address: NW 9th Court
Zip Code: 33324
Style: Residential
Size: 1,500 SQ. FT.
Room Count: 3/2
Additional Features: Private Corner Lot
Price: $ 169,850
Address: NW 9th Court
Zip Code: 33324
Style: Residential
Size: 1,500 SQ. FT.
Room Count: 3/2
Additional Features: Private Corner Lot
Price: $ 169,850
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| Call and speak with a local Property Appraiser. Michael Bode 954-415-1630 561-674-0498 www.FastFloridaAppraisals.com |
