Lien Foreclosure Florida For Sale
Description
How to fill out Complaint Or Petition To Foreclose On Mechanic's Lien?
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FAQ
If you are unable to successfully contest the foreclosure, or work out a loan modification or short sale, the judge will set a foreclosure sale date which is typically within 30 to 45 days following your hearing. This is when the property will be sold at auction to the highest bidder.
The claim of lien must be recorded in the clerk's office in the county where the property is located, at any time during the progress of the work or upon completion, but not later than 90 days of the final providing of labor, services or materials by the lienor.
The lender must sue the borrower and obtain an order to foreclose. Depending on the court schedule and load, it normally takes from 180 to 200 days to complete the foreclosure process in Florida. If contested by the borrower or if the borrower files for bankruptcy, this process may be delayed further.
Filing Suit to Foreclose Your Lien. Florida law allows a one-year time period for filing suit to foreclose a construction lien. The one-year time period runs from the date on which the Claim of Lien was recorded. If suit is not brought within the one-year time period, the lien expires and becomes unenforceable.
Surplus Funds are ?the funds remaining after payment of all disbursements required by the final judgment of foreclosure and shown on the certificate of disbursements,? ing to Fla. Statute 45.032(1)(c). To answer the first part of this question, all liens survive the Florida Foreclosure Sale of a Florida Property.