Are there defenses to a foreclosure?

Yes, there are defenses to a foreclosure in Florida. Depending on the circumstances of your case, you may have multiple options. One defense is that of recourse. In Florida, the borrower may be able to reach an agreement with the lender that either reduces the amount owed, extends the time to repay the debt, or changes the terms of the loan. Another defense is that of foreclosure avoidance. In some cases, borrowers may be able to obtain a loan modification, a short sale, or a deed-in-lieu of foreclosure, which are all alternatives to foreclosure. A loan modification is when the lender and borrower reach an agreement to alter the terms of the loan, such as the interest rate, term, and payment schedule. A short sale is when the borrower sells the property for less than what is owed to the lender. And in a deed-in-lieu of foreclosure, the borrower transfers the deed of the property back to the lender to avoid foreclosure. Finally, borrowers may be able to use a defense of duress. This is when a borrower is coerced into signing a contract as a result of false representations or threats. If the borrower can prove that the lender used duress to induce him/her to sign the loan agreement, he/she may be able to successfully challenge the foreclosure. If you are facing foreclosure, it is important to speak to a qualified foreclosure defense attorney to determine what options and defenses may be available to you.

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Are there defenses to a foreclosure?

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