Questions & Answers

Q. I have just been served with a summons and complaint to foreclose my home.  What should I do?

A. By Florida law you have 20 days to file an answer to the complaint with the clerk of the court.  If you fail to
do anything, a default will be entered against you.

Q. What happens next?

A. The bank’s attorney will file a motion for summary judgment and ask the judge to enter a final judgment
and set a judicial sale date.

Q. What should I do?

A. Unless you are familiar with the law, you should hire an attorney.

Q. Why?

A. Your attorney can file an answer with affirmative defenses and an affidavit in opposition to the motion for
summary judgment.

Q. How will this help?

A. It will create a factual dispute.  As such, the court will usually deny the bank’s motion for summary
judgment and allow the case to proceed.

Q. Can I call the clerk of the court or the judge and ask for advice?

A.   No.  Courts do not give advice to parties in a lawsuit.  To get legal advice you need to contact an
experienced foreclosure attorney.

Q.   Do I have the right to reinstate my loan?

A.   It depends.  You must read the mortgage because some give the borrower the right to reinstate the
loan until a final judgment is entered.

Q. What do I do if a final judgment has already been entered?

A. You may have the right of redemption, which means after a judgment is entered, you still have the right to
refinance the loan to stop the foreclosure.  However, you must do this before the judicial sale occurs and a
certificate of sale is issued by the clerk of the court.

Q. Will I get any money from the judicial sale of my home?

A. It depends on how much your home sells for.  If there is little or no equity in your home, most likely you
will receive nothing.  If there is equity in your home, you may receive something.  But, typically investors
purchase properties for as little as possible.  So, you could possibly lose most or all of the equity you have in
your home.

Q. After the judicial sales occurs, is there anything I can do?

A. In limited circumstances, that your attorney can explain, you may be able to file an objection to the sale.

Q. What about bankruptcy?

A. With a Chapter 7 bankruptcy you may be able to discharge unsecured creditors and possibly save enough
money to reinstate your loan.  With a Chapter 13 bankruptcy you may be able to restructure your debts and
save your home.

Q. What if an investor approaches me with an offer?

A. Be very, very careful.  There are some investor who will say anything to get you to give up your home for
a faction of its value.  Your loss is their gain.
The Thorpe Law Firm
(813) 933-5051  
7819 North Dale Mabry Highway, Suite 108, Tampa, FL 33614
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