Florida Foreclosure Law: What Clients Need to Understand

Florida uses judicial foreclosure, meaning the lender must file a lawsuit and receive a court order to auction your property.

1. Filing & Default Notice After a missed payment, the lender sends a demand letter. If ignored, they file a foreclosure complaint with the court.

2. Summons & Opportunity to Respond You are served a Summons and have up to 20 days to respond. If you don’t, the court may issue a default judgment.

3. Mediation & Options Florida courts sometimes require mediation. You may negotiate a short sale, loan modification, or repayment plan.

4. Sale at Judicial Auction Once the judge authorizes a sale, the property is marketed and sold at public auction. The auction begins with a minimum bid—often the full debt amount.

5. Right of Redemption Florida offers no statutory redemption period for residential property—so after the sale, it’s final. (For certain commercial or agricultural land, limited exceptions may apply.)

6. Surplus Funds If the sale price exceeds what’s owed, the surplus is held by the Clerk of Court. You must file a claim within one year, or the funds may revert to the state.

Why This Matters: Florida’s foreclosure cases move through courts—and paperwork, hearings, and strict deadlines are involved. Mercy Management helps you stay on time, respond properly, and recover surplus funds if eligible.