Florida Foreclosure Process
Posted by 94Nole on September 23, 2003 at 14:16:02:From speaking to an attorney, there doesn't seem to exist any form of a "public" pre-foreclosure period in FL. The way I understand it is that a package is sent by the lender to an attorney, who prepares a letter to the mortgagor instructing them to bring the mortgage current by paying $X amount of money (default not yet public). If this payment is not made within 10 days, an acceleration letter is sent and the formal foreclosure process is born. A lis pendens is filed (public notice) which puts the public on notice of the foreclosure action and the mortgagor has no option at this point other than to pay the note in full.
MY QUESTION IS THIS: Is there a way to step in and purchase the property "subject to" at the point that the action is made public (filing of lis pendens)? Or would an outright purchase be the only option (which is often not an option because of other liens, etc.)?
- Re: Florida Foreclosure Process - Nick(Colorado) 16:09:55 09/23/03
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- Re: Florida Foreclosure Process - 94Nole 15:57:37 09/24/03
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- Re: Florida Foreclosure Process - Nick(Colorado) 09:57:12 09/25/03
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- Re: Florida Foreclosure Process - Nick(Colorado) 09:57:12 09/25/03
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- Re: Florida Foreclosure Process - 94Nole 15:57:37 09/24/03
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