Florida Foreclosure Law

Facts:

Judicial Foreclosure Available:     Yes

Non-Judicial Foreclosure Available:       No

Primary Security Instruments:      Mortgage

Timeline:     Approximately 180 Days

Right of Redemption:       Yes, for a brief period of time and subject to a court procedure

Deficiency Judgments Allowed:       Yes

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Quick Summary:

In Florida, lenders may foreclose mortgages in default using a judicial foreclosure process only. 

 

The foreclosure timeline in Florida is approximately 180 days from the time you miss your first payment until a Notice of Default or Notice of Sale is issued to your actual foreclosure date and sale.

Florida borrowers are allowed deficiency judgments and have the right of redemption only for a brief period of time and a subject to a court procedure.

New Information on Florida Foreclosure Laws and regulations:

1) licensing of mortgage lenders, brokers, and loan originators; and 2) creates numerous requirements for loan modification services. To view bill FL SB 2226 click here

For more information on Florida Foreclosure laws and regulations visit  http://www.ncsl.org/public/leglinks.cfm and click on your state.

Or Contact:

Florida's Attorney General's Office
The Capitol
Tallahassee, FL 32399-1050
Ph: (904) 488-2526
Fax:(904) 488-5106