Investment and Vacation Real Estate - Orlando, Florida

Quick Facts
-  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
In Florida, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.

Judicial Foreclosure
In Florida, all mortgages are foreclosed in equity. In a 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.

Equitable Right of Redemption ends at the foreclosure sale (or at another time specified by the courts, but this rarely happens). There is a period of time after the sale that "the court reviews the sale to ensure a fair price has been paid."  Basically, this period of time allows parties to object to the sale on the basis that proper procedures were not followed or collusion existed between the bidders, for example.  This period is usually 10 days, after which the Certificate of Sale is filed and title passes, if the sale is confirmed.  If the sale is not confirmed, another sale is ordered.

 Reference F.S. Chapter 702

The lender may sue to obtain a deficiency judgment in Florida.

More information on Florida foreclosure laws

 

Stop Foreclosure & Save Your Credit

Orlando Short Sale - Loan Modification image

Posted by Real Estate - Associates on August 29th, 2009 9:05 PMPost a Comment (0)

Subscribe to this blog
Recent Posts:
Archive:
My Favorite Blogs:
Sites That Link to This Blog:

Orlando Real Estate Buyers image

FREE Home Evaluation

Orlando Foreclosures image

Orlando Real Estate - Homevest image Buy Vacation Condos imageOrlando Realtors imageOrlando Real Estate Realtors image 

Buy Vacation Condos .com: Offering Orlando, Florida & North Carolina investment properties, condo-hotels, new homes and condominiums for sale. Buy Orlando vacation property and investment homes in FL. Professional real estate services include realty listings including FREE MLS (multiple listing service) property search, local information and free advice for buyers and sellers. more about us...  

LAND Depo .com: Offering investment land, lots and home-sites in luxury planned residential & resort community, waterfront investment property, golf community land properties, or sales in pre development - pre construction development sites in FL, GA, SC, NC, TN, VA, WV & the South Eastern United States. We bring you unique investment opportunities from the ocean to the mountains and special places in between. 

 

Florida Short Sale Center: Florida short sales offer homeowners a way to avoid foreclosure with a short sale and help save their credit.  We have a team of licensed Realtors and loss mitigation experts across the entire state of Florida who specialize in pre-foreclosures and the short sale of all types of property.

Real Estate Investment Clubs - Florida Mortgage Loans - SE Florida Real Estate - Orlando Real Estate

                                                     Buy Vacation Condos  

P.O. Box 692526 Orlando, FL 32836
Phone: Fax:

Why a Condo-Hotel? | Why Orlando Florida? | Why Land? | Coastal Carolina Area | Join our Investor Club | Carolina Mountain Area | New Construction Search Engine | Orlando Real Estate Listings | Why Vacation Homes? | Orlando Vacation Homes | Stop Foreclosure - Short Sales | Vacation Community Listings | Orlando Vacation Townhomes | Orlando Vacation Condos | Orlando Condo Hotels | Looking to Buy? | Looking to Sell? | Featured Properties | Home | Foreclosure - Bank Listings | Our Blog

Copyright © 2012 Buy Vacation Condos
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.