In many cases, a discussion about how to prevent or stall a foreclosure of one’s home or business will revolve around what a Florida family can do to negotiate with the bank, or, alternatively, delay the process.

However, it is important for people in the Coral Springs area to remember that mortgage foreclosures are lawsuits, meaning that the bank still has to prove its case and comply with all the applicable legal requirements, even down to what might seem like minute details. Otherwise, it is possible for family to avoid foreclosure altogether.

For example, banks, and others for that matter, have only 5 years to foreclose on a mortgage in the event of a default. After that time, the claim is time-barred. As a word of caution, though, laws about statutes of limitation and other legal time limits can be nuanced, so a person should speak to an experienced attorney before relying on the 5-year time limit as a foreclosure defense.

Banks have to comply with many other legal requirements before they will be able to complete the foreclosure process. There are many statutes, both state and federal, that apply to mortgages, and they also will need to establish that the mortgage and underlying loan agreement are valid under the so-called common law of contracts as well. Finally, banks have to observe all local and state court procedures, especially when it comes to obtaining a judgment and serving paperwork.

Albeit a relatively rare phenomenon, there will be a handful of mortgages that borrows can legally defend against and prevent from going forward, even without having to negotiate with the bank or resort to bankruptcy.