AboutSteele V. Propp Expertise I can answer most foreclosure related questions. Buying, selling, the process of foreclosure, Loss Mitigation, Short Sales, etc. Both for HUD and VA homes as well as conventional foreclosures.
I work 100% in the Foreclosure arena, dividing my time equally between consumers going through foreclosure, people interested in buying foreclosures (investors and those looking for a home of their own for lesser cost), and with the lenders doing foreclosures. This unique three prong approach allows me to see all three sides of the typical foreclosure scenario. Our goal is to offer advice and create a win-win-win situation.
Experience 19 years of bank owned housing experience.
Publications Money Magazine, Real Estate Today and many newpapers, regional and national.
Education/Credentials Foreclosure Specialist
Past/Present Clients GMAC Mortgage, Horizon Management, and 43 other lenders involved in the foreclosure process.
Expert: Steele V. Propp Date: 6/21/2008 Subject: foreclosure
Question Hi I am facing foreclosure as due to my husband being laid off a few months back and we just cannot get current. My lender said if i dont have my payments current by june 30th they are going to start the foreclosure process and send to an attorney. I am in Florida and i was wondering how much time do i have until i have to relocate my family and also can the lender take my tax returns every year for the money i owe them if they dont sell for what i owe? or can they actually garnish mine or my husbands wages for the remaining balance we would owe to them after the sale?
Answer You need to contact one of the many Florida state and local agencies that are assisting people in your situation. You have some of the best in the nation.
In answer to your question, it takes about 5 months in Florida to do a foreclosure. And yes, the lender can come after you for any loss that they take on the sale. However, they will not necessarily exercise that right. They will have to take you to court and that costs even more money for them. Surprisingly, many will write the losses off instead of going after the former borrower.
