Decree

Decree: A judgement or decision of certain law courts.

Decree: The judgment of a court of equity which corresponds to the judgment of a court of law. A decree can either be interlocutory or final. The former is a decision that does not affect the main question, and the latter resolves the issue at hand. A final decree is the same a judgment of law.

Decree: It’s Not Over Until It’s Over

If a mortgage holder fails to pay the required mortgage payments for six months, the bank can request that a judge issue a decree of foreclosure and sale. The homeowner will be afforded adequate notice of the outstanding debt. If the decree is issued, the property will be sold at a foreclosure sale or auction.

If the property is ordered to be sold at a foreclosure sale or auction, the homeowner may still have several months to take action. Certain states allow a redemption period after the decree is issued. During the redemption period, it may be possible to request foreclosure assistance and save the property.

According to Brian Daniel Flick, a foreclosure attorney from Cincinnati, if the judgement has been entered and the foreclosure has been filed, “It means judgment has been granted to the plaintiff. If it has been more than 30 days since the decree was issued, your right to appeal has expired however if you did want to appeal, you may want to have an experienced attorney review the decree to make sure it is compliant with all rules to be a final order. The next step is the order for sheriff sale (foreclosure sale) which could be signed at any time.”

However, if a homeowner in foreclosure has received a final judgment, they can still fight the foreclosure. In certain situations, the homeowner may be able to contest the validity of this judgment, get it set aside or even get it invalidated.

The Florida Statutes, for example, grant the circuit court, “jurisdiction, power, and authority to rescind, vacate, and set aside a decree of foreclosure of a mortgage of property at any time before the sale thereof has been actually made pursuant to the terms of such decree, and to dismiss the foreclosure proceeding upon the payment of all court costs.”

Decree

Decree: A judgement or decision of certain law courts.

Decree: The judgment of a court of equity which corresponds to the judgment of a court of law. A decree can either be interlocutory or final. The former is a decision that does not affect the main question, and the latter resolves the issue at hand. A final decree is the same a judgment of law.

Decree: It’s Not Over Until It’s Over

If a mortgage holder fails to pay the required mortgage payments for six months, the bank can request that a judge issue a decree of foreclosure and sale. The homeowner will be afforded adequate notice of the outstanding debt. If the decree is issued, the property will be sold at a foreclosure sale or auction.

If the property is ordered to be sold at a foreclosure sale or auction, the homeowner may still have several months to take action. Certain states allow a redemption period after the decree is issued. During the redemption period, it may be possible to request foreclosure assistance and save the property.

According to Brian Daniel Flick, a foreclosure attorney from Cincinnati, if the judgement has been entered and the foreclosure has been filed, “It means judgment has been granted to the plaintiff. If it has been more than 30 days since the decree was issued, your right to appeal has expired however if you did want to appeal, you may want to have an experienced attorney review the decree to make sure it is compliant with all rules to be a final order. The next step is the order for sheriff sale (foreclosure sale) which could be signed at any time.”

However, if a homeowner in foreclosure has received a final judgment, they can still fight the foreclosure. In certain situations, the homeowner may be able to contest the validity of this judgment, get it set aside or even get it invalidated.

The Florida Statutes, for example, grant the circuit court, “jurisdiction, power, and authority to rescind, vacate, and set aside a decree of foreclosure of a mortgage of property at any time before the sale thereof has been actually made pursuant to the terms of such decree, and to dismiss the foreclosure proceeding upon the payment of all court costs.”

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