A foreclosure in Florida starts 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 specific amount of time, usually 20 days, 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 a foreclosure sale date.

At Ameritrust Solutions we put the lenders on defense by requiring them to submit to a forensic loan audit.  Many lenders attempting to foreclose on homeowners do not have the original promissory note. When this is the case foreclosure is not possible.  Lenders who do possess the original promissory note often have RESPA (Real Estate Settlement and Procedures Act) and mortgage-related document violations.  The most powerful foreclosure defense mechanism afforded consumers by Congress is the extended to right to rescind a mortgage transaction pursuant to the Truth in Lending Act and its implementing Regulation Z.  In these instances a foreclosure action is nullified and a refund of monies is to due to the borrower.

If you are at risk of losing your home to foreclosure call Ameritrust Solutions today at 1-800-899-5395 for a no cost consultation.  A trained case worker from our legal team will assist you in determing your best course of action.

Still have questions about loan audits?  Please review our Foreclosure Defense Frequently Asked Questions page.