Foreclosure in Jacksonville>Question Details

Donna Craig, Home Seller in Jacksonville, FL

We have a summary judgment on a foreclosure in Florida. No hearing or sale date set. Are we still able to sell the home - direct or short sale?

Asked by Donna Craig, Jacksonville, FL Mon May 24, 2010

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I dont know if you are missing notifications or not but a summary judgement is pretty much it and only allows for corrections to be made later. There really are no more hearings and a sale date is imminent, especially if you never filed an answer to the original complaint. Did you receive a motion for summary judgement or the summary judgement? There is a huge difference! If you can get enough from a sale to pay off the mtg plus all costs (the amount should be mentioned in the summary judgement but will be astonishingly more than the original mortgage) you can pay it at any time and even after the sale date you have a few weeks (like 10 days) after to excersise a right of redemption. You really need to have a lot of equity to do this and make it worthwhile. Getting a mortgage company to backtrack at this point will probably be futile but you could try. Doesnt sound too promising however as short sales take a lot more time than you have.
1 vote Thank Flag Link Mon May 24, 2010
As long as you do not have a Sale Date, you still have time payoff your mortgage any way you can.. whether that is you paying it off yourself or selling it to someone that can. Every situation is different so giving you an answer here is that is guaranteed is not possible. You may only have a day or two or you may have a month or two, there are conversations that still need to be made between You and your Realtor and You and your Mortgage company.

Good luck to you.


Cindi Benton, Realtor, ePro
Davidson Realty, Inc.
100 E Town Place, Suite 100
St. Augustine, Fl 32092
1 vote Thank Flag Link Mon May 24, 2010
You are the only one that can sell your property until the foreclosure sale is completed. IF you try to short sell the property the bank may even give you some more time to sell the property if you qualify and apply for a short sale under the hafa program.

Keith Manson
First Weber Group
Certified Distressed Property Expert
Metro Milwaukee
0 votes Thank Flag Link Sat May 29, 2010
That house is yours until the judge gavels it sold after the sale date, therefore you can do what ever you want. Many people do not realize the bank does not own the title they just have a note against the title.
Obviously a short sale needs to be approved by the bank because you are giving them less than what is owed.
The unfortunate thing about trying to sell it direct these days is that if you are in foreclosure it is public record and everyone is a bottom feeder these days so they find out you are in foreclosure and figure they can get a deal.

Good Luck
Bob Patrick
Buy a home after foreclosure expert
0 votes Thank Flag Link Wed May 26, 2010
It also depends on who the actual "investor" is on your mortgage. The bank you make your payment to (ie. Wells Fargo, Bank of America, Aurora, OneWest Bank etc.) is probably only a "servicer".

I just saw a report that Fannie Mae owned "servicers" must foreclose within 150 days after it is placed into foreclosure, so time is of the essence. Find an experienced short sale Realtor (if you're not already listed) TODAY! Chose a Realtor that at a minimum knows how to pull up your current foreclosure filings on public records to determine if you have an auction date set.

Also you must find an attorney to file an "answer" to the foreclosure complaint.
0 votes Thank Flag Link Tue May 25, 2010
The answers below should give you insight into your situation. I am not an attorney, but we are experienced in short sales. Do you have your house on the market? If so, then you need to lower the price to attract a buyer. If not, you need to get it on the market right away. Banks have different rules about when they will stop the foreclosure process, but it has been our experience in most cases that it was when they got a contract. However, the rules keep changing and this year we have read that some banks will not stop the process even then.

This is why you need a professional with experience helping you through this process. Please let us know if we can help you further.

Best regards,

Frank & Sharon Alters, CDPE, e-PRO, GRI
Watson Realty
Certified Distressed Property Expert Designation
Web Reference:
0 votes Thank Flag Link Mon May 24, 2010

First I am not an attorney. Your best bet would be to talk with a real estate attorney. I can give you the name of the one that I use.

I would recommend that you contact a real estate agent, this won't cost you as the lender will pay from the sale proceeds, and discuss the the short sale process. Get your home listed now, then go to court and file a motion with the judge to allow you time to sell your home. I can help you here, but time is of the essence.

Then your agent needs to contact the lender to start the short sale process. This is going to be frustrating and time consuming but by working with the lender letting them know that a short sale would be better than foreclosing it should work out. I work with an attorney that will oversee/expedite this process. Again time is of the essence.

Contact me if you have any additional questions.
Charlie Chorman - REALTOR
Loss Mitigation Certified LMC, Short Sales & Foreclosure Resource SFR
Web Reference:
0 votes Thank Flag Link Mon May 24, 2010
In a word yes, but the clock is ticking. Call the bank and try to get them to start the modification process. You should also receive notification or a hearing in which you will go before a judge. You can then ask the court to grant an extension of the foreclosure. Make sure that you are proactive and keep documentation of contact you've made with the bank. I judge is not going to be very sympathetic if you haven't done your due diligence.

If you are going to sell your home contact me and I can guide you through the short sale process. I also use an attorney that can help expedite the process.

You can receive more information on my website below. Click on the link Short Sales and Foreclosures.

Bryan Gates
Watson Realty

904 465-5846
0 votes Thank Flag Link Mon May 24, 2010
You can call your lender and ask for the loss mitigation department or ask for assistance with your mortgage. They will tell you exactly what you need to do about your mortgage default. There is a new law HAFA and they may be able to offer modification of the mortgage or short sale approval. All of this is dependant on your financial status. Call the lender first then interview several Realtors to make sure they will meet your needs.

If your bank says you can do a short sale, make sure you get a Realtor who is not only certified and or trained/experienced in short sales but has had success in getting them closed. This process is not for the faint of heart and you will have to work closely with the Realtor and the lender to accomplish your goals.
0 votes Thank Flag Link Mon May 24, 2010
A summary judgement allows your lender to foreclose. Florida is a judicial foreclosure state so this is one step towards foreclosure. You should still be able to short sale the home.

Thank You,
Rodney Gornoski
0 votes Thank Flag Link Mon May 24, 2010
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