Here is an updated version with details specific to Florida:
The Foreclosure Process in Florida – What To Expect
If you have fallen behind on your mortgage in Florida, your lender may begin the foreclosure process to take possession of your home. Here is what you need to know:
Florida Uses Judicial Foreclosure
All foreclosures in Florida must go through the court system. Lenders have to file a lawsuit and obtain a court judgment before seizing and selling the property. This makes foreclosure slower than “non-judicial” states.
Receive a Notice of Default and Acceleration
Your lender will send you an initial notice that you are in default and the full mortgage amount is due immediately. You have 30 days to pay the past due amount before they can proceed.
Get Served With Court Summons
If you don’t reinstate the loan after the notice of default, you will be served with a court summons and foreclosure complaint. You must respond within 20 days.
Note the Date of Public Auction
The court will set a foreclosure auction date, which must be at least 20 days from the judgment. The sale must be published in local newspapers.
Right of Redemption Period
In Florida you have 10 days after the auction to pay off the entire loan balance and reclaim your property. This is called the “right of redemption.”
Eviction Proceedings if Home is Sold
If the home sells to a new owner at auction, the court will order you to evacuate the property within 5 days. The new owner can file for eviction if you don’t leave.
Consult a Housing Counselor or Attorney
Reach out for guidance on your rights and options. Act fast once you receive a notice of default to avoid losing your home.