Sunday, June 05, 2005
Florida Real Estate Foreclosure Laws
Judicial Foreclosure Available: Yes
Non-Judicial Foreclosure Available: No
Primary Security Instruments: Mortgage
Timeline: Typically 180 days
Right of Redemption: Yes
Deficiency Judgments Allowed: Yes
Lenders may foreclose on a real estate mortgage in default by using the judicial foreclosure process. All mortgages are foreclosed in equity. In a real estate mortgage foreclosure action, the court severs, for separate trial, all counterclaims against the foreclosing lender.
The foreclosure claim shall, if tried, be tried to the court without a jury. The court order of foreclosure will specify how the foreclosure must take place, and the foreclosure must take place on those terms. Whenever a legal advertisement, publication, or notice relating to a foreclosure proceeding is required to be placed in a newspaper, it is the responsibility of the lender or their representative to place such advertisement, publication, or notice.
For more info visit: http://www.massiveforeclosureprofits.com
Non-Judicial Foreclosure Available: No
Primary Security Instruments: Mortgage
Timeline: Typically 180 days
Right of Redemption: Yes
Deficiency Judgments Allowed: Yes
Lenders may foreclose on a real estate mortgage in default by using the judicial foreclosure process. All mortgages are foreclosed in equity. In a real estate mortgage foreclosure action, the court severs, for separate trial, all counterclaims against the foreclosing lender.
The foreclosure claim shall, if tried, be tried to the court without a jury. The court order of foreclosure will specify how the foreclosure must take place, and the foreclosure must take place on those terms. Whenever a legal advertisement, publication, or notice relating to a foreclosure proceeding is required to be placed in a newspaper, it is the responsibility of the lender or their representative to place such advertisement, publication, or notice.
For more info visit: http://www.massiveforeclosureprofits.com
