Riverview has been one of the fastest-growing communities in the entire Tampa Bay area, covering zip codes 33569, 33578, and 33579 in southern Hillsborough County. New subdivisions, newer schools, and easy access to I-75 have attracted thousands of families — many of whom purchased homes in the past several years at higher prices.
If you are behind on your Riverview mortgage, or if you can see that trouble is coming, here is what you need to know: you have real options, and the ones available to you right now are better than the ones you will have three months from now.
Before Foreclosure Is Filed: Your Best Opportunity
Florida is a judicial foreclosure state. Your lender cannot take your home without filing a lawsuit, serving you, and obtaining a court judgment. That filing happens at the George E. Edgecomb Courthouse, 800 E Twiggs St, Tampa, FL 33602, typically after 90 to 180 days of missed payments.
The period before that filing — the pre-foreclosure stage — is when your options are most numerous and most favorable. Once a foreclosure complaint is filed under Florida Statute § 702.015, you have 20 days to respond before the lender can seek a default judgment. Everything becomes more complicated once litigation starts.
Act now. Here is what is available to you.
Option 1: Forbearance — Temporary Breathing Room
Forbearance is a temporary agreement with your servicer to pause or reduce your mortgage payments for a defined period while you address the hardship that caused you to fall behind. You must request it — it is not automatic — but it can often be arranged within days of a phone call to your servicer's loss mitigation department.
During forbearance, the servicer agrees not to report you to credit bureaus as delinquent or initiate foreclosure. At the end of the forbearance period, you will need a plan to address the paused amounts — typically through a repayment plan, lump-sum payment, or loan modification.
Option 2: Repayment Plan — Catch Up Systematically
A repayment plan allows you to catch up on missed payments by adding a portion of the arrears to each regular monthly payment over 6 to 12 months. This is the right choice when your hardship has already resolved — you are back to your normal income — and you need a structured way to get current without modifying the loan itself.
The temporary payment will be higher than normal, so this works best when your budget can absorb it. If the hardship is still ongoing, a loan modification may be more appropriate.
Option 3: Loan Modification — Permanent Payment Restructuring
If your financial situation has permanently changed — income that is lower than it was before, expenses that are higher, or a household situation that has fundamentally shifted — a loan modification restructures your mortgage terms to match your current reality.
For Riverview homeowners, loan modification applications are submitted to your servicer's loss mitigation department. This is a Hillsborough County process, and the same county-level resources apply as for all Hillsborough homeowners. See our complete guide to loan modification in Hillsborough County for the full documentation list, types of modifications, and timeline.
Option 4: Sell — Possibly Your Strongest Move
Riverview's rapid growth has driven strong appreciation in many neighborhoods. If your home has gone up in value since you purchased — which is likely for many homeowners who bought before 2022 — you may have equity you can put to use.
A pre-foreclosure sale lets you sell on your terms, pay off the mortgage, and keep any remaining equity. No foreclosure on your credit. No deficiency judgment. You control the process.
For homeowners who purchased at or near peak prices and have less equity, a short sale with lender approval is still a far better outcome than a completed foreclosure — significantly less credit damage and no deficiency judgment in most cases.
Local Factors That Matter in Riverview
Barrett Henry, a Broker Associate at REMAX Collective with 23+ years of real estate experience, works directly with Riverview homeowners facing mortgage hardship.
- Newer construction in Riverview — Many Riverview subdivisions feature newer homes that attract strong buyer demand. Even if you purchased recently, demand may support a good sale price.
- South Shore communities — Communities like FishHawk Ranch, Panther Trace, Summerfield, and Rivercrest each have different market dynamics. Barrett can provide a neighborhood-specific analysis.
- HOA communities — Riverview has many HOA-governed communities. If you are behind on both your mortgage and HOA fees, see our guide on HOA foreclosure in Florida.
Free Resources for Riverview Homeowners
- Tampa Bay CDC — Free HUD-approved housing counseling. Call (813) 234-1947.
- Bay Area Legal Services — Free legal help for qualifying homeowners. Call (888) 912-6097.
- Florida Housing HAF Program — Mortgage reinstatement assistance. Call (833) 987-8997.
- Hillsborough County Clerk — Check your case status at hillsclerk.com.
See the complete Riverview foreclosure help guide and Hillsborough County foreclosure guide.
You Have Options. Call Barrett.
The situation is manageable right now. Three months from now, after a foreclosure complaint has been filed, it is more complicated. Six months from now, even more so.
Call or text Barrett Henry at (813) 733-7907 — free consultation, no cost, no obligation. Or submit your information online and Barrett will reach out to you directly.
What Inaction Costs You
A completed foreclosure stays on your credit for 7 years. It reduces your credit score by 100 to 150 points or more. And the waiting periods to buy again are significant — 3 years for FHA, 2 years for VA, 7 years for conventional.
Every alternative — forbearance, repayment plan, modification, sale, short sale — causes less damage than a completed foreclosure. The question is not whether to act but how to act. That is where Barrett can help.
