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Posted by Jake on February 25, 2005 at 09:34:29:
In Reply to: Foreclosure and Eviction in Florida posted by Ervin on February 24, 2005 at 22:17:26:
: Hi, I am hoping someone out there can help. My house was foreclosed on and my mortgage company that I had the house thru has already switched it out of my name to just theirs..I guess the question I really have is how long do you normally have in Florida before you are evicted? I was just offered today the option of voluntarily moving out on monday Feb 28th and turning over the keys with the house clean and the lawn moved and in return receive $500.00 once the real estate specialist handling this for the mortgage company inspects the house. Any advice will be greatly appreciated. I was also working with a legal aid attorney who I have now since learned via her boss that I was mislead and misinformed and that the foreclosure should have never happened to me. What gives? When it rains it pours I guess. thanks for listening.
This is so terrible. I feel so sorry for people in this situation. Most state have a right to redemption laws that let a renter buy back the house.
I looked up the redemption laws in Floride and here it is: Bidding at the sale. Judicial ForeclosuresLaws of bidding at foreclosure sales vary from state to state. Florida for example has no right of redemption after the sale. It is common for the seller's attorney to bid $100 if there are no other bidders. This saves on documentary stamps. But in other states that have a redemption period, this might mean the borrower could "buy the house back" for just $100. Be guided by your attorney.
After the saleSome states, such as Florida, permit the lender to pursue a deficiency judgment against the borrower if the house does not sell for enough to cover the loan and costs. Others, such as California, do not permit this. Again check with your attorney for the applicable laws in your state. Florida also allows the lender to collect any amount the defieient
on the loan. This means that they can and will attach your wages if the house does not sell for enough to pay off the debt. Some people in this situation who have lost the home and are in a state of this type just quit their job and get a new job and not tell them where they are presently working or living.
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