Non Judicial Foreclosure Coming to Florida?

Act 48 was intended to push non-judicial foreclosures into mediation, though this is rarely happening. Lenders have responded to the law by moving to judicial.

In a mortgage foreclosure action, the court severs, for separate trial, all counterclaims against the foreclosing lender. The foreclosure claim shall, if tried, be tried to the court without a jury. The court order of foreclosure will specify how the foreclosure must take place, and the foreclosure must take place on those terms.

Does Anyone Know What the Current FHA Mortgage Rates Are? – New Florida Mortgage Your Current Mortgage Must Already Be FHA-Insured While refinancing from a conventional loan to one backed by the FHA is possible, the Streamline option is only available to borrowers with an existing fha loan. The Mortgage Must Be Current This means that you have not missed any payments.

In September 2011, presentations were given to both the Florida House and the Florida Senate encouraging them to pass legislation implementing nonjudicial foreclosures. Currently, between 25 and 37 states have some form of nonjudicial foreclosure. The only method of foreclosure now available in Florida, however, is a judicial foreclosure.

The new Florida timeshare foreclosure law modification will shorten the amount of time needed to process a foreclosure from 18 months to a mere 90 days. It is hoped that this change in foreclosure time will help to quickly remove and replace owners who can no longer afford their payments.

In Florida, lenders may foreclose on a mortgage in default by using the judicial foreclosure process. This is commenced by filing a lawsuit in the Circuit Court in the county where the property being foreclosed is located. Again, this is a judicial process – there is not a non-judicial foreclosure process in the State of Florida.

Quicker "Non-Judicial" Foreclosures and Evictions Coming to Florida Inquiring minds are interested in pending legislation to dramatically speed up the foreclosure process in Florida. If bankers get their way, Floridians facing foreclosure could be kicked out of their homes in as little as three months.

If bankers get their way, Floridians facing foreclosure could be kicked out of their homes in as little as three months. The Florida Bankers Association, the 400-member-strong lenders’ lobby, has presented state legislators with a bill to upend decades of Florida law and establish "non-judicial" foreclosures in Florida by July 1.

Stearns Lending Stearns Lending, LLC is an American wholesale, retail and correspondent lender. Stearns is one of the largest mortgage lenders in the US [2] [3] and the fifth-largest privately held lender nationwide.

Judicial sales are held online at www.pasco.realforeclose.com. satisfying a judgment pursuant to florida statute 55.141 do not pertain to cases in foreclosure.