In Florida, judicial foreclosure ranks as the most preferred route by lenders for seeking legal remedy.
- The Florida Foreclosure laws allow the borrower a time period of 20 days to respond to the complaint filed against him/her in court.
- Where any process of arbitration or mediation is under process, the courts may stay the foreclosure until a conclusion is arrived.
- The foreclosing party has to publish a notice of sale of the property for a period not less than two weeks prior to the date of sale.
- In certain cases, where the home owner is directly served in the lawsuit, the court may show some leniency in arriving at the deficiency amount.