Foreclosure attorneys are often asked the following questions in regards to winning a foreclosure case:
- What happens when I win my foreclosure case?
- What exactly does that mean for me going forward?
- Is the bank going to come after me again?
- Can they still come after me for the money? For the house?
- Do I own the house now?
- Can I sell it?
In most cases, the answer to all of these questions is a deeply unsatisfying, “It depends.”
It depends on how and why you win the case. Read further for an explanation.
Can the Bank Come After Me Again?
In Florida, a mortgage lender must file a lawsuit against you to foreclose on your property. But, as with any lawsuit, it may be dismissed if procedural requirements are not satisfied. Here are a few the most common procedural grounds for the dismissal of a foreclosure case:
- The complaint against you was defective
- The bank or mortgage lender failed to comply with a court order
- There has been no action in the case for a year
Often, when a foreclosure case is dismissed on procedural grounds, the bank will be allowed to correct the defect and refile the foreclosure case. This means that they will be allowed to try again to take the house or come after you for the money. In fact, the only way they wouldn’t be allowed to refile the case is if it is too late and the statute of limitations bars them from refiling.
Typically, the statute limitations for a foreclosure case in Florida will run five years from when the case was first filed. Although Florida is one of the states with the longest foreclosure timelines (935 days), this will usually gives the bank ample time to refile the case.
If You Win Your Foreclosure Case, Can You Sell The House?
Generally, winning your foreclosure case means that you will be able to stay in your home for as long as you like unless a court tells you to get out, which is highly unlikely to happen if you have won your case. Therefore, the only real restriction is whether or not you can sell it, and the only real restriction on a sale would be whether or not your mortgage is clouding your title.
In most cases, unless the court orders the house to be sold, you are still the owner of the house and you can do whatever you want with it. However, you may be required to satisfy the mortgage as a condition of selling the house. For example, you may have to sell it for more than the mortgage is worth or arrange for a short sale.
On the other hand, if you win in a way that prevents them from enforcing the mortgage, you may be able to do other things with the house without having to satisfy the mortgage. This may require you to clear the title by obtaining a judicial opinion stating that the mortgage is no longer valid or enforceable. But, if you have truly and finally won your foreclosure case, you should be able to sell, rent or do whatever you want with the house.
Any questions you have regarding a foreclosure will depend on the particular facts of your foreclosure case, and will require the knowledge of an experienced foreclosure attorney from djjforeclosurelaw.com to be answered accurately. So, if you have any questions regarding restrictions on what you you can do with your home before, during, or after winning a foreclosure case, speak with a qualified attorney.