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Foreclosure Evaluation & Ebook

  • Evaluate Your Situation (Form Below)

    Not many people know how to find the right solutions for their problem. This process will save time and answer many of your questions.

  • Explore All Possible Options

    After the evaluation, you will understand every possible option available for your exact situation. No more searching or worrying about finding a solution.

  • Avoid Further Loss or Judgments

    Regardless of what option you choose, our process takes every possible precaution to help you avoid further losses or deficiency judgments.

  • Recovery From Foreclosure

    Regardless of whether you keep your home, or walk away, we will take steps to help your credit and start the financial recovery.

  • Full Support & Accountability

    We take the problems of our visitors very seriously. We know your financial future is at risk and we pledge our full support to help you through these tough times.

Florida Foreclosure Laws

Expected Timeline: About five months
Security Instrument: Mortgage
Type of Process: Judicial
Protections for Servicemembers: Fla. Stat. Ann. § 250.5201 to 250.5205
Time to Respond: Notice of lawsuit not required under Florida law, but most mortgages provide for notice. If lender asks for Order to Show Cause, homeowners have 21 days to respond after personal service or 31 days after notice by publication. Notice of sale must be published for two consecutive weeks at least five days before auction date.
Reinstatement Period: Allowed for high cost loans.
Protections for High-Cost Mortgages: Florida Fiair Lending Act, Fla. Stat. Ann. § 494.0078, 494.00794
Redemption Period: Available under certificate of sale is filed by clerk of court.
Eviction Process: New owner files civil complaint to gain possession of property. Former owners have five days to respond.
Deficiency Judgments: Allowed if owners are personally served with lawsuit. Lenders who made loan to homeowners for the purchase of the property and buy the property back at the sheriff sale can not sue for a deficiency. Courts have great flexibility in amout of deficiency to award.
Limits on Deficiency Judgments: Homeowners entitled to jury trial in deficiency case. Bank must have in-hand service on borrowers to include deficiency action in the foreclosure lawsuit.
Cash Exempted in Bankruptcy: $1,000 for single person, $2,000 for married couples.
State Statutes: Fla. Stat. Ann. § 702.01, 45.031

Foreclosure procedures in Florida are all Judicial Foreclosures controlled by the courts. The lender must sue the borrower and obtain an order to foreclose. The court defines the procedures to be followed. A notice of sale may or may not be published in local newspaper publications. If a notice of sale must be published, the terms of the sale ordered by the court must be adhered to.

The court may extend the redemption period before the sale, but this rarely happens. However, the right to redeem the property exists up until the time the sale is confirmed, which is usually ten (10) days after the sale. The court reviews the sale to determine whether a fair price has been paid for the property. If the court does not confirm the sale, another one is scheduled.

The lender may sue the borrower for a deficiency judgment if the sale price does not cover the balance due on the loan plus costs.

State Website: www.flsenate.gov/statutes