I am assuming that you (and your Agent) have taken all the proper steps.
If the Bank does not want to accept your plan, and they do HAVE to accept it, then they obviously prefer to Foreclose on you.
You are in a very unfortunate situation, very much like so many of your fellow home owners.
The good news is that for the past five years real estate professionals have been actively engaged in this trench warfare. As unpredictable as the short sale process is, over the course of five years we have developed the contacts, skills and knowledge to anticipate and counter many of the strategies the other side uses as well as awareness of where their internal communication will sabotage a beneficial outcome.
The nature of your question and lack of acknowledgement of a second party, indicates you have chosen not to benefit from this collective experience and elected to pursue a short sale using alternatives. (this is most definately as issue you need to be discussing with whomever is managing your home sale.) Usually this works our fine until an event like yours occurs and you become fully aware you don't know what's going on and are very likely to become an unwilling victim.
Lila and Sharon provided excellent guidance and alternatives that should be essential in moving forward in your short sale. Be very aware, if you are enmeshed in legal proceedings, you really really need legal advise. Most, in the trenches real estate professionals, have access to legal experts who can quickly assess the situation and advise if the DIY route serves your best interests in this situation.
Let us know what you found out. I'm betting it's the LIS Pendens notice. Which means you are most likely good to go, depending on whe the bank(s) and other players are.
Best of success in getting your home sale completed,
ReMax Realtec Group-
Foreclosure in the state of Florida is about a 180 day process, in a perfect world. That is from the start of the foreclosure - the Lis Pendens notice - to the courthouse sale. In truth, it can take a year or more. If you can't afford an attorney and aren't comfortable writing your own response in your own words and representing yourself ('pro se'), why don't you Google and there is an attorney web site that can help you for less than what one would charge in person.
Do you have a real estate agent, or are you selling on your own? If an agent, he or she should be able to put you in touch with an attorney they work with who might give you a phone consultation at no charge.
Hope this helps!
Sharon H. Alters
Coldwell Banker Vanguard
As a realtor, I can only tell you how I would be working on this transaction. Please understand that in many cases the department that is working on the short sale is not in communication with the foreclosure department, that is one of the biggest problems I have at times when assisting sellers with their short sales. If the summons you received is the Lis Pendens, which is the first step in the foreclosure process, then it is not quite as bad as you may think. You can get an attorney for a nominal fee to file a response for you to the summons, and even ask for an extension of time with the court. You can provide the real estate attorney with proof that you are currently under contract for the sale of your home as well as the documentation that you have been submitting to the short sale department. As stated here, you Realtor can be asissting you with communicating with your lender to advise them what you are doing. While short sales do take some time, I have been experiencing that the banks are moving this process along a lot faster than in the past. The key is to ensure that your Realtor , or who ever is working on the short sale, to remain in constant contact with the bank and to get them the documentation they seek. The average turn around time I have been experiencing lately is under 45 days to get an approval. When there is a second mortgage, it may take a little longer, but since this is all done simulatneously, it really doesnt add too much time.
My strongest suggestion is to definitely get an attorney to answer this summons for you just as soon as possible. This should buy you some time to get the short sale work done and approved. Additionally you want to be pressing your Realtor to see what he/she is doing on your behalf with the lender on the short sale. Constant contact with the bank is vital. Good luck, and please, if you have any additional questions do not hesitate to call, while I can not give you legal advise, I can share my experiences with you and help guide you.
Lila V. Lopez
CDPE -Certified Distressed Property Expert
RE/MAX Advance Realty