Jacksonville Foreclosure Laws & Lawyers

The Jacksonville foreclosure rate for the first quarter of 2009 was 25 percent higher than the same time as last year.  Almost 5,700 new foreclosures were filed in the Jacksonville metro area during the first three months of 2009.  That’s one for every 103 homes, or almost a 1% foreclosure rate, compared to a .6% national average foreclosure rate.  The Jacksonville foreclosure numbers ranks the city as 39th highest in the nation.

Jacksonville Foreclosure Laws

Foreclosures in Jacksonville are governed by laws set by the State of Florida.  Foreclosure laws are enforced through the court system by judicial foreclosure only.  Non-judicial foreclosures are not allowed in Jacksonville or Florida.  The primary security deed is the mortgage document.  Deeds of Trust are not allowed in Florida as they are in most other states, which allow for a trustee foreclosure sale, bypassing the court system.  All Jacksonville foreclosures must be filed and processed through the county courts.

How a Judicial Foreclosure Works In Jacksonville

Foreclosures in Jacksonville begin when a borrower defaults on payment a loan.  The lender must file a complaint with the court who subsequently issues an official notice.  In Jacksonville, the lender does not have to notify the borrower before filing the lawsuit.  The borrower has 20 days from the date of filing to respond to the complaint.  A response within that timeframe usually will result in further litigation between the two parties and may eventually end up in a trial to settle the dispute. 

If there is no response, the court then files a notice of default or produces an order to foreclose upon the property.  A foreclosure sale is set usually between 20 and 35 days after the order appears in the court.  A notice of sale must be published in local newspapers for two weeks, the final notice appearing no more than five days before the final sale date. 

The foreclosure sale happens at auction at the county courthouse.  Up until the final foreclosure sale, the borrower may redeem the loan by paying all past-due payments, fees, and costs.  However, once the sale has taken place, there is no redemption.

Jacksonville Foreclosure Help

The statistics are clear that Jacksonville foreclosures are not slowing down.  With a near 1% foreclosure rate and a total of over 9,000 homes in some phase of foreclosure, Jacksonville homeowners facing foreclosure must be proactive if they want to save their homes.  Help can be found by contacting a certified foreclosure lawyer who can help the homeowner in financial trouble.  The foreclosure lawyer specializes in Jacksonville real estate and foreclosure law and will be able to provide the best advice during the foreclosure process.

• If you may be facing foreclosure or already in the process, Consult Your Case for Free with a local certified Foreclosure Attorney in Jacksonville to see your best options you have available to avoid Foreclosure.