Florida Foreclosure Law Summary
Stop Florida Foreclosure
- Judicial Foreclosure Available: Yes
- Non-Judicial Foreclosure Available: No
- Primary Security Instruments: Mortgage
- Timeline: Typically 180 days
- Right of Redemption: Yes
- Deficiency Judgments Allowed: Yes
In Florida, all mortgages are foreclosed in equity. In a mortgage foreclosure action, the court severs, for separate trial, all counterclaims against the foreclosing lender. The foreclosure claim shall, if tried, be tried to the court without a jury.
The court order of foreclosure will specify how the foreclosure
must take place, and the foreclosure must take place on
those terms. 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 lender or their representative to place such advertisement,
publication, or notice.
Equitable Right of Redemption
ends at the foreclosure sale (or at another time specified
by the courts, but this rarely happens). There is a period
of time after the sale that "the court reviews the sale
to ensure a fair price has been paid." Basically,
this period of time allows parties to object to the sale
on the basis that proper procedures were not followed or
collusion existed between the bidders, for example.
This period is usually 10 days, after which the Certificate
of Sale is filed and title passes, if the sale is confirmed.
If the sale is not confirmed, another sale is ordered.
(Reference F.S. Chapter 702)
The lender may sue to obtain a deficiency judgment in Florida.
More information on Florida foreclosure laws.