Jacksonville Florida Foreclosure Help, Defense, Laws and Process


Jacksonville is located at the southeastern United States; with much of the land mass is large peninsula with Gulf of Mexico in the west. Jacksonville is located in the sunshine city, Florida famous for its warm subtropical climate in the central and northern region of the state. It’s also the fourth most populous state in the U.S. In Jacksonville foreclosure can be done only through court. The entire process will take about 4 to 6 months. The property of the debtor is considered as a security for the underlying loan taken from the lender. Let’s walk through the foreclosure procedure:

Jacksonville Florida Foreclosure Process

  • The foreclosure process starts when a lender files a court action against the borrower. The lender also records a notice of pending lawsuit.
  • The lender then has to notify the borrower and other associated parties in person. The lender can also do this by mail or through publications.
  • The borrower is given a particular time to report in the court.
  • If the lender fails to do so, lender can urge the court to rule the case in his favor.
  • Thus the court rules the amount owed by the borrower and foreclosure sale date.
  • In Jacksonville, lender is not required to notify the borrower before initiating foreclosure process.
  • The borrower is able to stop the foreclosure process up until the date of sale by paying the full amount to the lender.

Sales date usually comes after 20 – 35 days after the court ruling. This can vary depend on the court in which the notice is filed. The clerk of the court is the one who is responsible to issue time, date and sale. The sale occurs at the county courthouse at 11:00 am on the sale date, supervised by the court clerk. Anyone can take part in the bidding process. Unlike other states the bidder has to provide only 5% of the total bid as deposit. The remaining amount should be paid within 20 days to seal the deal. The clerk issues the certificate of sale upon successful completion of the sale. The ownership is also transferred within ten days of the sale. The borrower has no right of redemption.

A Jacksonville mortgage is established only upon successful submission of the documents such as; mortgage, note, security agreement etc. Security agreement is needed only for commercial transaction. Although the foreclosure process completes in 3 months, the borrower can delay it by contests action, or by filing a bankruptcy. Jacksonville is one of the few states allow the debtor to redeem their property by paying remaining due till the date of sale. Once a sale is sealed the debtor will not be able to redeem the property. The lender gets the benefit of deficiency of judgments, if the winning bid is less the underlying loan. This means the borrower still owes the lender, till the remaining amount is paid.

The law governs Jacksonville foreclosure is found in F.S. 702. 01 et.seq. To know about these statutes on the web, go to http://www.leg.state.fl.us.