Florida Foreclosure FAQ — Lake Mary Homeowners

Florida is a judicial foreclosure state, meaning the lender must file a lawsuit in circuit court and obtain a court order before your home can be sold. The process is governed by Florida Statute Chapter 702 and typically takes 6–18 months from first missed payment to foreclosure sale, giving you significant time to explore your legal options.

After a foreclosure lawsuit is filed, you have 20 days to respond. The case then proceeds through discovery, motions, and potentially a trial or summary judgment hearing. Once a final judgment is entered, a sale date is scheduled — typically 20–35 days out. Total timeline: 6–18+ months with an active defense.

A deficiency judgment is a court order requiring you to pay the difference between what you owe on your mortgage and what the home sold for at foreclosure auction. In Florida, lenders have one year after the foreclosure sale to seek a deficiency (§702.06, F.S.). A skilled attorney can often negotiate a deficiency waiver as part of a loan modification, short sale, or deed in lieu agreement.

Florida homeowners have the right to redeem their property — pay off the full mortgage amount — at any time before the foreclosure sale certificate is filed by the clerk. This is an absolute right under Florida law. While difficult financially, it is an option worth exploring if you can access funds.

Common and powerful defenses include: (1) Lack of standing — the bank cannot prove it owns your mortgage note; (2) Chain of title defects — your mortgage was sold multiple times with documentation gaps; (3) RESPA/TILA violations — federal servicing errors; (4) Failure to provide required pre-suit notices; (5) Statute of limitations — the 5-year window has expired; (6) Errors in the amount claimed. Every case is different — a free review with Attorney Thompson will identify what applies to yours.

Yes. Missing payments does not automatically mean the lender has an error-free right to foreclose. Procedural defects, documentation errors, and federal law violations are independent of whether you missed payments. Many successful foreclosure defense cases involve homeowners who did fall behind — but where the lender did not follow the law correctly.

Dual tracking is when a mortgage servicer simultaneously pursues foreclosure while also "reviewing" your loan modification application. Federal CFPB rules (Regulation X under RESPA) restrict this — servicers generally cannot refer a loan to foreclosure or obtain a judgment while a complete modification application is under review. We monitor for dual tracking violations in every case.

A loan modification permanently changes your mortgage terms — interest rate, loan term, or principal — to make payments affordable. Whether your lender agrees depends on your financial situation, loan type, and how the application is presented. Attorney Thompson has successfully secured modifications for homeowners who were denied multiple times on their own, because attorney involvement changes the dynamic significantly.

The review process typically takes 30–90 days, though some lenders take longer. During this time, federal RESPA rules require servicers to acknowledge your application within 5 days and give you a decision within 30 days of receiving a complete application. We actively follow up to prevent the "application stall" that many homeowners experience.

A short sale is when you sell your home for less than you owe, with lender approval. Benefits over foreclosure include: less credit damage, ability to negotiate deficiency waiver, control over timeline, and the ability to qualify for a new mortgage sooner (typically 2–4 years vs. 5–7 for foreclosure).

A deed in lieu is when you voluntarily transfer your home's title to the lender in exchange for release from your mortgage debt. When negotiated by an attorney, it can include deficiency waiver, cash relocation assistance, extended move-out period, and favorable credit reporting. It is typically faster and more private than a foreclosure.

Your initial case review is completely free and carries no obligation. After that, our fee structure is transparent and discussed clearly at the start of our relationship. We do not surprise clients with unexpected costs.

Our office is located in Lake Mary, Florida, convenient to all of Seminole County. We also offer phone and video consultations for clients throughout Seminole, Orange, Volusia, and Broward Counties. Many initial consultations happen by phone.

We respond to all inquiries within 24 business hours. For emergency situations — sale dates within 30 days, imminent eviction — call us directly at (833) 729-7778 for immediate attention.