How Long Does the Foreclosure Process Take in Florida?

Foreclosure can take fewer than 5 months in Florida.

In 2009, the Associated Press reported that Florida is among the top four states with foreclosure problems. Realty Trac found some of the country's highest foreclosure rates concentrated in the Cape Coral-Fort Myers area of the state.

Features

Florida is a judicial foreclosure state; therefore, your lender must obtain court approval to auction off or repossess your home. The process begins with preforeclosure, initiated when your lender files a public default notice with the county court called Lis Pendens. This pending lawsuit may begin after 2 or more months of missed payments, and continue for another 2 to 3 months before the court ruling.

Time Frame

At the end of the preforeclosure period, the Florida court supplies a ruling with the amount owed and the foreclosure sale date. The sale date is typically 20 to 25 days after the ruling, but may vary by court, says Realty Trac. It takes place at 11 a.m. at the county courthouse, according to the real estate website.

Size

According to Realty Trac, Florida's judicial foreclosure process takes 135 days, or approximately 5 months. According to Zalken Revell, a Florida-based law firm, the process can take as few as 105 to 120 days.

References

• Realty Trac: Florida Foreclosure Laws
• Realty Trac: Foreclosure Overview & Foreclosure Process
• MSNBC: Associated Press: Four States Dominate City Foreclosure Rankings

Resources

• Realty Trac: Glossary of Real Estate Terms