Foreclosure Process

Florida Foreclosure Process

Posted on Tuesday, April 28, 2009

1. Complaint filed naming all parties on title search with interest in property (consider any title defects).
2. Summons
3. Lis Pendens
4. Publish notice of foreclosure action twice of not less than 20 days.
5. 20 days to file answer, defesnes, counter claims.
6. No answer = motion for default with affidavit of indebtedness/order of default and judgment for foreclosure.
7. Answer/responsive pleadings = moiton for summary judgement and hearing. Rarely full trial on the merits.
8. Final judgment of foreclosure, clerks sale schedules usually 30 to 45 days from entry of judgement. Notice of sale published 2 consecutive weeks.
9. Clerk conducts sale. Borrower has until sale completed to redeem by paying off entire indebtedness. Certificate of Sale issued typically day of sale.
10. 10 day period to object to sale after which certificate of title is issued.
11. Is occupied, issue writ of possession. If need to, initiate eviction proceedings: demand letter to occupants, writ of possession presented to clerk, delivered to sheriffs ofice for execution. Time varies depending on volume. Provide movers and securing personnel. Usually completed within a month. Problme if someone new is occupying property - person can file a simple affidavit which usually necessitates another hearing.
12. Deficiency judgment can be requested in initila complaint or by motion for deficiency judgment. Equitable figure determined by court. Valuation is as of foreclosure sale. Need deficiency as part of complaint or by separate motion, defendants personally served, plaintiff bid at sale equal to or less than property value. Can be entered without further notice or hearing.
If defendant responded, plaintiff must file motion for deficiency judgment and serve within 10 days after certificate of title is issued.


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