Selling a House in Pre-Foreclosure in Palm Beach County

Pre-foreclosure is the stretch between falling behind on a mortgage and a foreclosure sale. In Florida, foreclosure goes through the court system, so that stretch can run for months. That's time you can use, but only if you start early.

• Missed payments. Federal mortgage servicing rules generally keep a servicer from making the first foreclosure filing until a borrower is more than 120 days delinquent, with some exceptions.
• The lawsuit and lis pendens. The lender files a complaint in circuit court and records a notice of lis pendens, which appears in the public records with the Palm Beach County Clerk. After you're served, you generally have 20 days to respond. This is the point to talk with a Florida foreclosure attorney.
• Judgment and sale date. If the lender wins, the court enters a final judgment and sets a sale date. Palm Beach County foreclosure sales are held online through the Clerk.
• After the sale. In general, the owner's right to redeem ends when the Clerk files the certificate of sale, unless the judgment sets a different time.

Every case is different. Loan modification, forbearance, a short sale and contesting the case are all possible paths, and a HUD-approved housing counselor can help at no cost.

If there's equity, selling before the sale date usually means you keep the difference between the payoff and the sale price, instead of it going toward fees and interest. Even with little equity, selling can avoid a foreclosure judgment on your record. Some things to know:

• Get a payoff letter early. Late fees, interest and attorney fees keep adding up.
• Your lender gets paid at closing. The title company pays off the mortgage from the proceeds. No lender approval is needed unless you owe more than the sale price.
• If you're underwater, a short sale needs the lender's approval.
• Watch the calendar. A sale needs to close before the foreclosure sale date. If the date is close, your attorney may ask the court to reschedule it.

We buy Palm Beach County houses in pre-foreclosure as-is, often with other problems too: deferred repairs, code violations, back taxes or an estate. If the house was inherited and the loan went unpaid after a death, see selling an inherited house with open permits in Plantation for how an estate sale works, and our foreclosure guide.

We buy in Boca Raton, Delray Beach, Boynton Beach and Lake Worth, West Palm Beach and Palm Beach Gardens. Call or text 305-812-9445, or tell us about the property.