Legal Question in Real Estate Law in Florida
Mortgage forclosure
How long does it take to forclose on a mortgage loan held by a banking institute?
1 Answer from Attorneys
Re: Mortgage forclosure
A bank mortgage can take anywhere from a few months to 6 months and more to foreclose. This is very much dependent upon whether or not the Defendant poses any defense or fights the foreclosure. At a minimum, thirty days notice must be given prior to the Complaint being filed. Service of process must be had on each Defendants which can take several days to a month or two. The Defendant(s) then have 20 days in which to answer or file responsive motions. After the motion stage, a Final Judgment will be entered and a sale date set. Notice of the Sale must be advertised in the legal newspaper for 30 days prior to the sale at the courthouse.
This is a serious legal matter with the facts varying from case to case and should be reviewed with an attorney who is experienced in real estate and/or foreclosure matters.
Scott R. Jay, Esq. (305) 249-8000
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