FORECLOSURE DEFENSE
Aaron Resnick is a Florida Real Estate attorney who focuses on foreclosure defense from Miami Beach to Jacksonville. Proper legal representation can help you make informed choices during trying times. Lenders have attorneys to assist them during a foreclosure, and you should, too!
- Foreclosure Defense
- Loan Modification Negotiation
- Reinstatement Plans
- Deed in Lieu of Foreclosure/Short Sale Negotiation
- Forensic Audits
- Repayment Plan Negotiation
- Assumption/Forbearance
What is the Foreclosure Process in Florida? A foreclosure in Florida begins when a lender files court action and records a notice of a pending lawsuit (Lis Pendens) against the borrower. The lender notifies the borrower and any other affected parties in person or in some cases by mail or publication. If the borrower does not respond to the court action within a specified amount of time (typically 20 days), the county clerk can find the borrower in default and the lender can ask the court to make a final ruling. If the court rules against the borrower, the ruling will include the total amount owed to the lender and the foreclosure sale date.
The sale date is typically 20-35 days after the court ruling, but this may vary depending on the individual court. The clerk of court issues a notice of sale containing the location, date, and time of the sale. The notice is published once a week for two weeks, with the second notice appearing at least five days before the sale.
The clerk usually oversees the sale, which ordinarily occurs at the county courthouse at 11:00 a.m. on the sale date. The winning bidder must provide a 5-percent deposit and pay the remaining balance by the end of the day or a new sale is scheduled a minimum of 20 days later. After a successful sale, the clerk gives a certificate of sale to the winning bidder
Within 10 days of the sale, the clerk transfers ownership to the winning bidder if no one disputes the sale. In most instances, a borrower has no right of redemption after the certificate of sale is issued.**