FORECLOSURE DEFENSE GUIDE
This will guide you though the common path of a foreclosure case in Florida.
Notice of Default. The 1st StepNotice of Default. This is the first step in the Florida foreclosure process. When you are 3 or more payments behind in your mortgage, your lender notifies you that you are in default of your mortgage.
The Rest of the ProcessLis Pendens ("suit pending"). Your lender files a lawsuit against you for defaulting on your mortgage and demands that you pay your mortgage in full.
Your Answer. After being served the Lis Pendens, you have 20 days to file an answer with the court. When you file an answer, you receive the opportunity to present your case and Defenses if any.
Summary Judgment. At the end of the answer period, the lender's attorney files a motion with the court to declare summary judgment. A 20-day answer period must pass between the Summary Judgment and the Hearing.
Your Hearing. This is your opportunity to contest the foreclosure. Having a well trained attorney on your side can be absolutely vital for your success.
Foreclosure Sale Date. If you were not able to contest the foreclosure or negotiate an alternative, a foreclosure sale date will be given and set, usually within 30 to 45 days following your hearing.
Foreclosure Sale. Your property is offered for sale to the highest bidder at an auction.
Right of Redemption. After a foreclosure sale in Florida, there is a waiting period (usually 10 days) before the Clerk issues a Certificate of Title to the new owner. Before this certificate is filed, you can still halt the foreclosure sale by paying off your mortgage debt.
Removal. Once the Certificate of Title is issued to the new owner, the Sheriff can evict you and your possessions, if necessary.
Deficiency Judgment. After the foreclosure sale, the lender can still sue you for a deficiency judgment if the foreclosure sale price does not cover the balance due on the loan and expenses.
Foreclosure Timing. If uncontested, the Florida foreclosure process can take approximately 180 to 200 days to complete.