(561) 544-7071

Monthly Archive for: ‘January, 2016’

Fast Cash Loans

Right of Reinstatement

The majority of mortgages in the state of Florida give you or your defense attorney the right of “reinstatement.” This means that at any time during the foreclosure process if the borrower comes up with the money for the late payments or can make a deal with the bank, then they should be able to reinstate their mortgage. Reinstating a loan stops a foreclosure because the borrower is allowed to catch up on payments in default, but it is important to note that there are potentially other costs involved with reinstatement such as past-due fees and penalties incurred as a result of the default. Once the mortgage has been reinstated, the borrower must resume making regular payments on the...