6 Ways To Stop Foreclosure In Volusia County Florida
Are you trying to avoid foreclosure in Volusia County Florida? Do you need to stop foreclosure in Volusia County Florida fast? At My Florida Home Buyers, we may be able to help! If you need to sell your Volusia County home fast in order to avoid foreclosure, we can make you a fast, free, no-obligation cash offer and buy your house quickly to help you stop foreclosure in Volusia County Florida.
How Does The Foreclosure Process Work In Volusia County Florida?
The foreclosure process in Volusia County Florida starts when you begin missing payments. Your lender will most likely start sending you notices letting you know that you’ve missed payments. They’ll also start tacking on late fees to your balance. If you’re not able to resolve the issue and make up the missed payments and late fees, your lender will move you into the pre-foreclosure phase. This 120 day pre-foreclosure waiting period exists because a foreclosure lawsuit cannot be filed until you’ve been delinquent on your mortgage payments for at least 120 days. You may receive more notices and letters from your lender during this time. This is a great time to consult a foreclosure attorney regarding your possible options.
Once the 120-day pre-foreclosure waiting period is finished, the lender will most likely issue a notice of default and file the summons, notice of lis pendens, and complaint with the county clerk of court. This marks the start of the judicial foreclosure process. Most houses go to foreclosure auction within 180-210 days of this time. If you haven’t acted yet, now is the time!
After your lender files the lawsuit with the court, you’ll be served with a copy of the summons and complaint by either the county sheriff or a private process server. The summons will give you 20 days to respond to the complaint that has been filed against you. It is strongly recommended that you consult an experienced foreclosure attorney for help with responding to the summons and complaint. If you do not respond at all, the court will issue a summary judgment against you and move on with the foreclosure process.
The next step is the foreclosure auction, which will be scheduled after the final judgment of foreclosure has been issued. It is at this auction that your house will be sold to the highest bidder, which may be much less than what the house is actually worth. Once the house is sold at auction, you’ll have 10 days to vacate the property or the new owner can file for an ejectment, which is similar to an eviction, only faster. You’ll also be faced with a possible deficiency judgment if the lender was not able to recoup enough money at the foreclosure auction.
As you can see, the foreclosure process in Volusia County Florida moves very quickly and you may only have a limited time to act. If you contact My Florida Home Buyers to stop foreclosure in Volusia County Florida, we are going to ask you, “Have you been served with papers yet?” or “Are you late on your payments?”. That’s because it makes a big difference in terms of timeframe.
So, you have a house in Volusia County and you need to stop foreclosure fast. You may or may not have been served with foreclosure papers yet, but the process is moving closer and closer to the foreclosure auction. What do you do to stop foreclosure in Volusia County Florida?
How to Stop Foreclosure in Volusia County Florida
When it comes to stopping foreclosure in Volusia County Florida, you have several options. As stated above, always consult an experienced foreclosure attorney for advice before making any major decisions. We’re not attorneys and nothing on this page should be taken as legal advice!
Option 1: Strategic Default.
A strategic default usually means walking away from the house and letting the bank foreclosure on the house and take it back. This is usually done with the assistance of an experienced foreclosure attorney. It’s not really a great option to stop foreclosure in Volusia County Florida for most people. A strategic default will damage your credit, you won’t be able to get another mortgage for up to seven years, and you could be liable for a deficiency judgment. A deficiency judgment can be obtained if the bank is still owed money after they get the house back through foreclosure and sell it. The bank can sue you again for the money they’re still owed and obtain a deficiency judgment. Overall, strategic defaults are not a great option.
Option 2: Strategic Foreclosure or Deed-In-Lieu of Foreclosure.
A strategic foreclosure or deed-in-lieu of foreclosure is a way to stop foreclosure in Volusia County Florida in which you come to an agreement with your bank to give them back the title to the house. This usually involves an agreement that they will not pursue a deficiency judgment against you at a later date. You will most likely want to get help from an attorney if you’re going to try this, as the process can be complicated. In some cases, your credit score may still be impacted.
Option 3: List your house with a real estate agent.
Another option you have if you are trying to stop foreclosure in Volusia County Florida is to list your house with a real estate agent. Listing with a real estate agent is not the fastest way to stop foreclosure in Volusia County Florida, but if your house is in great condition and you have plenty of time left before the foreclosure auction, it can be a good option.
Even if your house is priced right, you’ll still need to be prepared to wait at least 90 days for your house to sell, sometimes longer. This can put you right up against the foreclosure auction if you’re not careful. We see a lot of houses that are actively listed with real estate agents go to foreclosure auction because they were not sold in time.
You’ll also need to be prepared to make repairs to the house if they are required by the buyer’s lender. If your house is not in great shape, this can become a major issue. Most folks going through foreclosure do not have the cash lying around to make repairs like a new roof, new electrical panel, new A/C system, etc. when they are required by the buyer’s lender in order for the house to sell.
If your house is in great shape, and you have plenty of time to sell, listing your house with a local real estate agent can be a good way to stop foreclosure in Volusia County Florida. If you need a great local real estate agent, reach out to us! We can put you in touch with the number one real estate team in the area. We work with them on a regular basis and they specialize in getting houses sold as quickly as possible while still getting the most money for their clients.
Option 4: Short Sale.
If you owe more on your mortgage than your house is worth, a short sale may be a good option to stop foreclosure in Volusia County Florida. A short sale is basically the process of selling your house for less than what you owe, and coming to an agreement with your lender so that they will accept that amount as the payoff. You’ll want to find a good attorney to help you out with this process, as well as a real estate agent who is experienced with short sales. Short sales often take a long time to complete. We see many properties that are listed with real estate agents as short sales end up going to foreclosure auction because they could not get the short sale completed in time. Short sales involve a lot of paperwork, a lot a red tape, and they often fall apart before the deal closes.
Option 5: Sell your house to a cash home buyer in Volusia County Florida.
Most homeowners who are going through foreclosure do not have the cash lying around to make repairs to the house in order to get it sold, and they often have a limited amount of time to sell. In cases like this, selling your house to a cash home buyer can be a great option to stop foreclosure in Volusia County Florida.
As cash home buyers in Volusia County Florida, we can purchase your house in its current, as-is condition. You won’t have to make any repairs or updates. We can also pay you cash and close very quickly, often in as little as 7 days! We also offer a guaranteed closing, so you won’t have to wonder if we’re going to back out of the sale and leave you to face the foreclosure auction. This can be a great option if you have limited time to sell and your house is not in excellent condition.
If you’re looking to stop foreclosure fast in Volusia County Florida, reach out to us today and get a fast, free, no-obligation cash offer on your house.
Option 6: File for bankruptcy.
Unfortunately, many people are now filing for bankruptcy in order to stop foreclosure in Volusia County Florida. Sometimes bankruptcy stops the foreclosure permanently, but often it only delays the foreclosure until a later date. If you do decide to file bankruptcy, you’ll want to consult an experienced bankruptcy attorney for advice and assistance. Bankruptcy can be very complicated and it’s not something you want to try on your own.
A bankruptcy will also have long-term negatives affects on your life. It can stay on your credit report for up to 10 years, and make it impossible to get loans, use credit cards, or rent a house to live in. Bankruptcy should only be used as a last resort and not an easy way to stop foreclosure in Volusia County Florida.
Ready to Stop Foreclosure in Volusia County Florida?
If you’re ready to stop foreclosure in Volusia County Florida, reach out to My Florida Home Buyers today! If you need to sell your house fast to avoid foreclosure, we can make you a fast, cash offer and close quickly, even if your house needs repairs or updating. If your house is in great shape and you have plenty of time to sell, we can put you in touch with the number one real estate team in the area. Either way, we’ll take a look at your situation and point you in the right direction. Don’t wait to stop foreclosure in Volusia County Florida! Reach out to us using the form below and get help today!
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About Volusia County, FL
Volusia County is located in the east-central part of the U.S. state of Florida, stretching between the St. Johns River and the Atlantic Ocean. As of the 2010 census, the county was home to 494,593 people, an increase of 11.6% from 2000. Its county seat is DeLand. It was founded on December 29, 1854, and was named for the community of Volusia, located in northwestern Volusia County. Volusia County is part of the Deltona–Daytona Beach–Ormond Beach, FL metropolitan statistical area, and is also part of the larger Orlando–Deltona–Daytona Beach, FL Combined Statistical Area.
Things To Do In Volusia County, FL
Volusia County is a large and diverse county with plenty to do for everyone. For beach lovers, the coast of Volusia County features cities such as Daytona Beach and New Smyrna Beach, each having their own attractions and charms. If a quaint downtown is what you’re looking for, the historic city of Deland has a great downtown area that is perfect for walking around and browsing the many local shops and delicious restaurants. One of the most famous attractions in Volusia County is the Daytona International Speedway, home to NASCAR races and other motor sports events throughout the year.
Weather In Volusia County, FL
Volusia County can be very hot in the summer months, with daytime highs reaching into the upper 90s and humidity levels at their peak. It is slightly more tolerable along the coast where ocean breezes cool things off significantly and keep the humidity at bay. No matter where you are in Volusia county, afternoon thunderstorms are to be expected during the summertime. The winter months are much more tolerable, with highs in the mid to low 70s and humidity levels at their lowest. At this time of year, the water temps along the coast are a little too cold to swim, but a day at the beach can still be enjoyable.