Behind on the mortgage in South Florida: your options before foreclosure

Missed payments, a letter from the bank, maybe a sale date. The clock is real, but you have more options than the bank's letters suggest.

Where you are in the process

Florida foreclosures go through the court, which takes months, not weeks. Until the judge signs a final judgment and the clerk sells the house, you still own it and can still sell it. The earlier you act, the more of the equity you keep.

What we do

We pull the payoff from your lender, check for second mortgages and liens, and make a written offer. If the numbers work, we close before the sale date and the lender is paid from the proceeds. Whatever is left after the payoff is yours. If the house is worth less than what's owed, we'll tell you that honestly and explain what a short sale would involve.

What we won't do

Ask you to sign the deed over and 'catch up the payments for you,' charge you a fee to 'stop the foreclosure,' or rush you into anything. Those are the scams that target people in exactly your position.

• You keep the equity left after the payoff. We don't take a cut of it.
• A closing date before the auction is the whole point, and cash makes that possible.
• Listing with an agent, a loan modification, or bankruptcy may be better for you. We'll say so if they are.