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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A notice of sale may or may not be published in local newspaper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. |