Florida State Foreclosure Laws
Fla. Stat. Ann. §§ 702.01, 45.031 (West)
Most Common Method of Foreclosure: Judicial action.
The mortgagee can request the issuance of an order to show cause to the mortgagor why final judgment of foreclosure should not be entered. § 702.10.
Foreclosure by Power of Sale Permitted?: No.
Judicial Foreclosure Procedure: File complaint in equity. If a show cause order is requested, a hearing may be held twenty-one days after in-hand service or thirty-one days after the first publication date. Defendant may file a defensive motion but no answer is valid unless it is verified. Sale is made by the clerk no less than twenty days after the final decree. After the sale, the clerk must file a certification of sale indicating the highest bidder and amount of the bid. If there are no objections within ten days, the clerk files the certificate of title. § 45-031.
Number of Notices: One.
Amount of Notice Required: Notice must be published in a newspaper for two consecutive weeks with the second publication at least five days before the sale date. § 45-031.
Content of Notice:
a) Description of the property;
b) time and place of sale; and
c) statement that sale will be made pursuant to decree of foreclosure, giving the docket number of the case, name of the case, where pending and name of the clerk making the sale.
Method of Service: By publication.
Redemption: Up to the date the clerk files the certificate of sale.
Post-Sale Provisions Regarding Proceeds: Disbursed by the clerk according to the final decree. Must file a report after disbursement. § 45-031.
Deficiency: Can include a deficiency action in a foreclosure action, but must have in-hand service on the defendant to pursue a deficiency. The court has discretion as to a deficiency decree. § 702.06. Even if a default judgment is entered on the foreclosure, the defendant is entitled, by case law, to a jury trial on the amount of the deficiency.
High-Cost Home Loans: Under the Florida Fair Lending Act, Fla. Stat. Ann. §§ 494.0078 to 494.00797, the lender must mail a notice of the right to cure default 45 days before filing a foreclosure action. If the amount necessary to cure the default will change during the 45-day period, the notice must include information sufficient to calculate the amount during that period. The notice must also include the date by which payment must be made (not less than 45 days from the notice), the name, address and telephone number of a contact to pay or dispute the defaulted amount, and the consequences of failure to cure. § 494.00794
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