Florida has one of the highest rates of foreclosure in the country. The state has a foreclosure process that is judicial--the lender must file with the court to take possession of the property. This procedure can take anywhere from four to six months. But there are ways to stop foreclosure.
Contact the lender. One of the best ways to stop foreclosure in Florida is to contact the lender and work out a payment plan. Lenders would rather make an agreement with the homeowner rather than foreclose on the property and lose much more money than they would by adjusting a payment plan.
Contact a company in Florida that will provide counseling to stop foreclosure. Avoid scammers by choosing reputable companies. For instance, speaking with a representative of HUD will guarantee no scamming. HUD has been around for years and have helped many people get into homes as well as help them avoid foreclosure. Contact Florida Foreclousre Aid (link is included) or Stopping Foreclosures (877-217-0786) which are two other companies that can help.
Refinance the home. This process could take as little as two weeks. By Florida law you must inform your lender and the court that the foreclosure is filed with.
Sell the home. Contact your real estate agent to coordinate a short sale which can be done under a month. The real estate agent will contact the lender to coordinate a payment they would accept. Depending on where the property is in Florida will depend on how much you will be able to sell the property for. For instance, if the property is in Miami-Dade County then you may have to sell for much less than you originally paid for the property. This is mostly from the high volume of foreclosures in the area. Then the property will be put up for sale for the lower amount in order for it to sell quickly. This will prevent further damage done to the borrower's credit by avoiding a foreclosure.
Go to the court and request a longer period of time to pay off amount owed. Sometimes Florida court will allow an additional month or two as long as you can give reason and proof that you will have the amount due by this time. For instance, if you lost your job which was the cause of delinquency but recently began a new job, then you can show how much you will be paid and how much a month you can pay to the lender.