Florida Foreclosure Timeline and Laws

Florida Foreclosure Process and Procedure

If you default on your mortgage, your lender can institute foreclosure proceedings against you. You risk losing your home.

Florida foreclosures are conducted by judicial foreclosure proceedings.

Notice Requirements for Foreclosure in Florida

State law does not require the lender to notify the borrower before instituting foreclosure proceedings.  To commence foreclosure, the lender files a lis pendens and complaint with the court and serves it on the borrower and all lien holders.  The borrower has 20 days to respond.

The Court Clerk issues a notice of sale containing the location, date, and time of the sale, which must be published once a week for two weeks, with the second notice appearing at least five days before the sale.

Florida Deficiency and Anti-Deficiency Laws

A deficiency judgment is allowed if the property is sold at a public sale for less than the loan amount.

Florida Redemption Rights

Within 10 days after the sale, the Clerk transfers ownership to the winning auction bidder if no one disputes the sale. The borrower has no right after the certificate of sale is issued to redeem the property.

Florida Assistance, Special Programs, Government Help, and Law Updates

Foreclosure Programs:

• Florida Foreclosure Avoidance Counseling -HUD
• The Home Affordable Mortgage Modification Program
• The Home Affordable Refinance Program
• The Home Affordable Foreclosure Alternatives Program
• FHA Secure
• Hope for Homeowners
• Foreclosure Rescue and Relief Services - Legal Updates on Protection from Scams for Home owners

Foreclosure Lawyer

Florida foreclosure laws are complex. It is recommended that you consult with a foreclosure lawyer who can advise you about options to avoid foreclosure including refinancing, reinstatement, deed in lieu, mortgage modification, short sale or bankruptcy.