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.
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