Florida Foreclosure Laws
Attorney General's Office
Tallahassee, FL 32399-1050
Ph: (904) 488-2526
Foreclosure Laws in Florida
Judicial Foreclosure: Yes
Non-Judicial Foreclosure: No
Security Instruments: Mortgage
Right of Redemption: No
Deficiency Judgments: Yes
Time Frame: 6-9 Months
Public Notice: Complaint
Judicial foreclosure: In Florida is completely controlled by the
court. The lender sues and obtains an order to foreclose. The court then defines
the procedure to be followed. The court may or may not order that the notice of
sale be published in a newspaper. If so ordered, it is the responsibility to place
the notice for publication on the terms ordered by the court.
The Sale: Technically ends any equitable right of redemption; however
the court may extend the time for redemption, but rarely does so. In fact, there
is a period following the sale during which the court reviews the sale to ensure
a fair price has been paid. This usually takes about 10 days, and right of redemption
remains in effect until court confirmation of the sale.
Should the court, for any reason, not confirm the sale, another sale is ordered.
The lender may also sue for a deficiency judgment.