Legal Question in Real Estate Law in Florida

You don't say who signed the mortgage. If you signed it, you can be responsible and could be subject to a deficiency. You should absolutely hire an attorney and not go through this procedure by yourself.

You should hire a competent lawyer that does foreclosure work- it is a very specialized field

Try to avoid the legal "Foreclosure Mills". You will likely not get the individual attention your matter may deserve.

If you can find a lawyer that is familiar with the staff of the foreclosing bank or the foreclosing bank's law firm, then so much the better. That's when good settlements are most likely.

Why a lawyer? The reasons are many: (1) the proper application of trust law, (2) the proper application of probate law, (3) whether mortgage documents (including an original signed promissory note or an original executed [and genuine] assignment of mortgage and note) are missing, (4) the pre-suit conduct of the foreclosing bank and whether it was equitable, (5) the amount of time that will likely go by from foreclosure to an auction or to an amicable resolution, (6) whether the appropriate Bank officer(s) sign motion(s) for summary judgment, (7) defense costs (court reporters, mediators, process servers etc.) and fees- "hourly", "flat", or simply "reasonable" [quantum meruit], (8) the time you will need to take away from your own work and career to defend the foreclosure (your deposition, for example) (9) the affect of the foreclosure on your various credit rating reports, (10) whether a bankruptcy might be something to consider, (11) the applicability of Florida debtor protection laws, (12) what happens with your home while the foreclosure proceeds, (13) what about the Ad Valorem Real Estate Taxes?, (14) if your home is a condominium or there is a townhouse association- whether the Association will bring its own action to foreclose for failing to make maintenance payments.

I could probably list another 10 or so factors on top of these. Finally, don't pay more for a competent attorney than you can afford. Legal fees compound VERY rapidly. Be prepared and forewarned.

Disclaimer: This response addresses Florida law. Further, a complete and accurate opinion can only be provided after you have conferred with a Florida attorney in good standing with the Florida Bar- preferably face to face and not as some phantom "voice" on the phone. Also remember that in Florida paralegals, legal assistants, secretaries, and law clerks cannot give legal advice. Meet with the attorney- that is the professional that has been qualified by law to render legal services. Don't settle for less.