Foreclosure Frauds and Scams

Laws, Codes and Articles for Florida Foreclosure Laws

-  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, mortgages must be foreclosed by filing a lawsuit in court. Florida is unusual in that the state has passed few statues regulating foreclosures. A sale can be set aside if there is an error in the procedure to foreclose; however, it cannot be set aside because of a too low sale price. After the sale takes place, the sale terms must be confirmed by the court. If the terms of the sale order are met, title in the buyer’s name can become complete by filing a certificate of title. At the discretion of the court, junior lien holders can redeem the property, up to the time of the confirmation of the sale. The EQUITY OF REDEMPTION  is cut off when the sale is confirmed, but it exists prior to that time. The borrower can redeem the property from foreclosure by curing the default prior to confirmation. Any action for a deficiency must be filed within four years from the foreclosure.

More information on Florida foreclosure laws

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Attention:  State laws can change frequently.  Make sure you check for updates with your state or professional legal counsel.