Florida Foreclosure Law

Florida foreclosure can be done on any mortgage in default and always follows a judicial process. All mortgages are also foreclosed in equity. When the case is filed, the court will separately try any counterclaims against the lender. If the foreclosure itself requires a trial, the court will do so without a jury. The average wait time is 180 days, or roughly six months.

Lis Pendens

The process starts when the lender files a case, known as a Lis Pendens, against the borrower. The borrower must then be notified of the action and respond within a given time frame. Otherwise, the court automatically makes the judgment and schedules the foreclosure sale.

Notice of sale

Once the foreclosure is declared, a Notice of Foreclosure Sale will be published in a local newspaper for at least three successive weeks, with the last publication made at least five days before the sale date. The notice will include all relevant details including the property address, a legal description of the home and any improvements, the time, date, and terms of the sale, and the contact information for people in charge of the property.

State laws also require all foreclosure-related ads to be placed directly by a petitioner, a petitioner’s attorney, or the clerk of court.

Foreclosure auction

The home will be auctioned off about 30 days after foreclosure is declared. The sale will be held at 11am at the entrance to the county courthouse. The winning bidder must pay a 5% down payment at the time of the sale and pay off the balance on the same day. One the payment is made, the buyer will be given a Certificate of Sale and the title is transferred.

Right of Redemption

Florida foreclosure law allows the borrower to cure the default anytime before the sale date. This must be done by bringing the mortgage current and paying the attorney’s fees. However, after the Certificate of Sale is issued, he or she loses the right of redemption.

Whenever a legal advertisement, publication, or notice relating to a foreclosure proceeding is required to be placed in a newspaper, it is the responsibility of the petitioner or petitioner's attorney to place such advertisement, publication, or notice. Florida foreclosure law states that the advertisement, publication, or notice shall be placed directly by the attorney for the petitioner, by the petitioner if acting pro se, or by the clerk of the court.

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