Florida foreclosure process

Court proceedings are the usual way to carry out foreclosures in Florida State. The entire process of foreclosure takes up to five months in Florida.

Period of Pre-foreclosure

Before filing for foreclosure, it’s important to understand the foreclosure proceedings and how they take place in Florida State. When a lender in Florida, files a case against the borrower in the court of law and makes a report of an impending lawsuit (Lis Pendens), the foreclosure proceedings are initiated. The lender also sends notices to the borrower as well as any other affected party (parties) either in person or by mail or even via publication depending on the case in question. The borrower can be held in contempt, if he/she does not reply to the court notice within a specified period of time. The right to find the borrower guilty for unresponsive behavior lies with the county clerk, but the lender also has the right to request the court of law to make the final ruling against the borrower.

In a situation where the court rules in favor of the lender, the borrower will be required to pay the full amount due to the lender and the date of the foreclosure sale according to the ruling.

According to the foreclosure law of the Florida State, the lender does not have to inform the borrower before starting the process of foreclosure. However, if the lender is initiating individual mortgages or deeds of trust, then the lender will be required to notify the borrower about it. The borrower can prevent the foreclosure, till the date of the foreclosure sale, if he/she agrees to pay the full amount due to the lender.

Auction Notice

The date of sale of the foreclosed property is generally decided around 25-30 days after the ruling has been made by the court. Nevertheless, this date can change depending on the specific court where the proceedings have been initiated. The procedure is simple. The court clerk sends a notice of sale with details such as location, date of auction/sale, and time of the auction/sale. The notice of sale is published for a period of two weeks, once each week, and the second and final notice is sent at least five days prior to the sale.

Once again, the proceedings of the sale of the foreclosed property are overseen by the clerk. Typically, these proceedings begin at 11:00 am at the courthouse of the particular county on the date of the sale. As per foreclosure laws, the winning bidder will need to deposit a 5% deposit by the end of the sale day, and pay the outstanding balance by the same day or within a stipulated period of a minimum of 20 days from the date of sale. Upon successful completion of sale, a certificate is given to the winning bidder by the clerk.

The clerk transfers the ownership of the foreclosed property within a period of 10 days from the sale if no one objects to the sale. Usually it is seen that the borrower loses of right of redemption once the certificate of foreclosed property sale has been issued.

Skyrocketing Tampa foreclosures

Tampa foreclosures have been skyrocketing since 2006 and it carried on in 2007. There has been an increase of almost 212% since 2006 and by the end of the third quarter of 2007; there were 29,238 foreclosures in Tampa. The foreclosure rate was an astounding one in every 282 homes. The facts and figures translate into a reality which is: there is a huge number of Tampa foreclosure homes available for buyers and investors. Unless, you want to be left behind in the race to find a beautiful home for your family, you should ideally check out some of the bargain offers on Tampa bank foreclosures. Tampa is considered to be one of the growing cities in Florida with several re-development projects in the pipeline like the Tampa Riverwalk. The median family income of Tampa is $40,517, which is one of the reasons why there has been a huge influx of people into the city. There are not enough residential units in Tampa to tackle the influx of people and hence there are more and more people looking at Tampa home foreclosures as an opportunity.

Find listings of Tampa Foreclosure

It is not easy to find Tampa foreclosures but with a little help from us at ForeclosureConnections.com, you will be able to find your way. We can provide you with detailed Tampa foreclosure listings that will offer you an insight into the different types of Tampa bank foreclosures that you can choose from. Whether you are looking for the perfect residential unit in Seminole Heights, Sulphur Springs, Ybor City, College Hill, Hyde Park, Tampa Palms and Tampa Heights or commercial space in the Westshore business district, you will find the finest Tampa bank foreclosures for sale mentioned in our listings. To start the journey, register for a 7-day membership and check out the 4000+ Tampa foreclosures.

The New wave of Orlando foreclosures

There is a new wave of Orlando foreclosures on the horizon. It is good news for investors and first time homebuyers because now you can buy your piece of paradise in central Florida. It is one of the most popular tourist destinations in the US as well as the world with the most famous of them being the Walt Disney World resort and also the SeaWorld. But in the last couple of years Orlando has seen an increase in the number of foreclosures. In the first half of 2007, foreclosures in Orlando reached an all time high with 8,325 homes being filed. The rate of foreclosure was one per 98 homes and this pushed Orlando to the 33rd position in the foreclosure list. In fact so much so that the hot real estate and housing market in Orlando has seen a fall in prices. The truth is that there is no dearth of Orlando foreclosure homes for investment purposes. If you are a homebuyer then you will find some of the most defining and stylish Orlando home foreclosures at an unbelievably low price. If you are carrying your lucky charm then you can get away with a discount of almost 20%.

Find listings of Orlando Foreclosure

A heaven for real estate investment, you can find some really great Orlando bank foreclosures. You can find different types of homes from historical heritage homes to modern plush townhouses and sophisticated condos. Some of the hotspots for Orlando foreclosures include Lake Eola Heights, Lake Formosa, Washington, Metro West, Baldwin Park, Callahan, Conway, Richmond Heights and Roosevelt Park among many others. To find the best Orlando home, you need the latest Orlando foreclosure listings, which we can provide you as a part of our 7-day trial membership program. Our listings comprise of Orlando bank foreclosures for sale with all necessary details, so that you don’t have to look too far for the Orlando foreclosures of your choice.

Jacksonville Foreclosures reach a high

Jacksonville foreclosures reached a new high as it was voted third in the list of cities with the highest foreclosure rate. Jacksonville recorded a rate of one in every 156 homes. Although it is a cause for concern for current homeowners but on the flip side of it, it is a blessing in disguise for first time or new homebuyers and investors. Due to the high rate of foreclosures in Jacksonville, many investors are headed for Florida. With a land area of 767 square miles, Jacksonville is the largest city in Florida and has a population of 794,555 (2006). One of the main attractions is the humid sub-tropical climate that features mild winters and tropical storms in the summers. The neighborhoods where you can find some of the finest Jacksonville home foreclosures include Greater Arlington, North Jacksonville along Trout River, Northwest Jacksonville, Southeast and Southwest Jacksonville and Urban Core or downtown. One of the upcoming neighborhoods is the Ponte Vedra or the Inter-coastal area, where you can find some of the hot Jacksonville bank foreclosures for sale.

Jacksonville Foreclosure listings

There are 3000+ Jacksonville foreclosures available for investors and homebuyers to choose from. The best way to find it is by getting your hands on updated Jacksonville foreclosure listings and we offer you one with our 7-day trial membership at ForeclosureConnections.com. Jacksonville is considered to be an uptown place by many people from business tycoons to celebrities and we offer you the chance of a lifetime: own your private property, single family home, villa, condo or beach house. You can browse through hundreds of Jacksonville foreclosure homes that are considered nothing less of being world class. Now with our specialized service, you don’t have to look too far for Jacksonville bank foreclosures and the icing on the cake is that you can get up to 20% discount on all Jacksonville foreclosures.

Alarming Increase In Jacksonville Foreclosures

Jacksonville, FL is going through an increasingly alarming growth in foreclosures. According to reports filed by November 2007, Jacksonville was placed 33rd based on the rate of foreclosure. The Northwestern neighborhoods have recorded that maximum number of foreclosed homes for sale. According to the Jacksonville foreclosures report, 3,501 properties were registered as foreclosed, which is rate of one home in every 156 homes.

Florida foreclosures have had an impact due to the rise in the number of foreclosure homes in Jacksonville. By November, it has been seen that the rate was higher by almost 49% as compared to the third quarter in 2006 as well as a 17% increase as compared to the 2nd quarter of 2007.

The zip codes as obtained by First Coast News that led Jacksonville foreclosures include 32209 having the highest number followed by 32218, 32208, 32206 and 32244. These zip codes are the top five in Jacksonville. Three of the zip codes exist in the northern side and together have recorded around 2,000 foreclosure filings till September 2007. This takes the ranking of Florida to third with Ohio ranking second and California topping the list.

The tremors of foreclosures in Jacksonville are being felt by one and all. In fact there has been an increasing growth in the crime rate is looks to be directly proportional to the increase in the number of home foreclosures in the state. One of the highlights is the foreclosure of the Old Henry Barn Restaurant, which gave in after a financial struggle that lasted several years. The property was foreclosed by Colonial Bank N.A. on February 23, 2007 after bidding at $636,413.

The rate of increase in Jacksonville foreclosures is bothering home owners as well as financial institutions like banks and other lenders. The primary reason been singled out are the loans and one thing is for sure: more and more people are falling prey to the loans and then failing to pay it. This causes the lenders to send out notices and the final nail in the coffin is the property or home being foreclosed. On the flip side of it, this good news for new homebuyers and investors. For example: a property costing $150,000 in the Southside of Jacksonville is available in the Northwest side for $80,000. This goes on to show that the amount you might pay for a foreclosed home will also vary from area to area.

Fort Lauderdale Foreclosures homes for investment

Fort Lauderdale foreclosures have shown a recent growth and this is good news for first time homebuyers and investors. Known as the Venice of America due to its intricate system of canals just like in Venice, Fort Lauderdale has always been a hot favorite with tourists. There have been times when tourists have visited this city and fallen in love with it enough to make it their home. With price spikes in real estate market, the best option is to go for foreclosures in Fort Lauderdale. Fort Lauderdale bank foreclosures are affordable and you can find all the top properties in the city. Whether you are looking for a modern and stylish home in the center of the city or a cottage or villa by the beach, you will find it through Fort Lauderdale foreclosure listings. It is not really as simple to find the most updated foreclosure listings but that is why we are here.

Fort Lauderdale Foreclosure listings

We at Mostlyforeclosures.com are going to make it easier for you by making you an irresistible offer on Fort Lauderdale foreclosures. If you are looking for Fort Lauderdale foreclosure homes then all you need to do is sign up for our 7-day trial membership and start browsing. Once you become a member, you will be able to take advantage of the many benefits we offer like guidance regarding Fort Lauderdale home foreclosures investment, tips on the entire process from locating Fort Lauderdale bank foreclosures for sale to bidding for them. You can also browse through our extensive and updated database consisting of more than 3000 properties from single family units to multi-family units. You will find important details like price, location, number of rooms mentioned in our listings and also get to view images of all Fort Lauderdale foreclosures. Are your ready?

Florida Foreclosure Homes Present An Excellent Buying Opportunity For Investment In Real Estate

Florida foreclosure homes present a terrific opportunity for real estate investment. With over 95,862 Florida foreclosures on the market just in this third quarter of 2007, you can simply choose the one you want to buy and save up to 20-40% on the market value of the home.

The State of Florida is ranked the second in America for having the highest number of foreclosure homes; but it also ranks #1 in the Southeast region across the United States. While statistics are just a mere reflection of the volume of Florida foreclosures available in the state, it doesn’t reflect the rate of foreclosure. As a largish state with much population, Florida is bound to have more number of Florida home foreclosures than the less populated Montana. What this real means is that Florida real estate market is still a good bet for buying Florida foreclosures.

A growing inventory of Florida bank foreclosures and repo homes signals an extensive choice for the discerning buyer. A look at the Florida foreclosure listings will show you that there are many homes that are foreclosed on a regular basis allowing you to not only find many options but also choose the ones that suit your pocket.

State of Florida is one amongst the many states in America that have been facing increasing foreclosure rates over the past couple of years. The state of Florida has several areas (counties, cities) where is a large availability of Florida foreclosure homes on sales and main among them are Orlando, Cape Coral, Fort Lauderdale, Hollywood, Homestead, Jacksonville, Kissimmee, Lakeland, Miami, Milton, and Mulberry.

All these cities such as Orlando, Miami, Hollywood, Kissimmee, Fort Lauderdale etc., have several Florida foreclosures available for sale, thereby providing an excellent opportunity for buying. You can now choose from stylish modern apartments, luxurious mansions, simple independent homes, to waterfront condominiums and much more. Different types of Florida bank foreclosures are also available and can be found listed on Florida foreclosure listings.

With a flourishing economy, beautiful scenery, and mild weather, Florida State is a popular place. Exciting nightlife, terrific shopping facilities, plenty of green spaces, numerous outdoor adventure activities such as water sports, scuba diving, snorkeling, diving, and an excellent infrastructure make Florida a great place to settle down in and find employment. Furthermore, Florida foreclosure homes provide you the best opportunity to fulfill your American Dream and help you in financially securing you future.