In Florida, foreclosure procedures are all Judicial controlled by the courts. Normally, time of about 180 days is required to complete the process of foreclosure in Florida. In case borrower contest or files for bankruptcy then process might take even longer time.

Process of foreclosure in Florida is initiated with a “Notice of Default” when the lender notifies the borrower about default of mortgage due to missing of repayment as per schedule. In practice, lender waits for at least 3 months after the first default instance.

As a next step, lender would file a Lis Pendens, or “suit pending” against the borrower to demand the payment of complete mortgage amount. The Clerk of Court records the Lis Pendens and served it to borrower. After the receipt of Lis Pendens, borrower gets 20 days to respond to the court regarding the foreclosure. Once the answer period is over, the lender’s attorney files a motion with the court to declare summary judgment which can take 20 more days before hearing can take place.

If borrower losses the case of foreclosure or unable reach at any loan modification settlement with lender then judge would set a foreclosure sale date. The sale date is typically 30-45 days after the court ruling which might vary depending on the individual court. Notice of sale containing the date, time and location of the sale is issued by the clerk of court.  It is published once a week in the newspapers for two week. The second notice should be published at least five days before the sale.

Once sale takes place, 10 days of waiting period is taken before the issue of Certificate of Title to the new owner by the court. In most circumstances, a borrower has no right of redemption once the certificate of sale is issued. Moreover, Sheriff may evict the previous owner and remove possession if required. Also, in case sale price is insufficient to cover unpaid loan amount plus interests plus costs, then lender may sue borrower for a deficiency judgment