Final Judgment Foreclosure Florida
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FAQ
The foreclosure is final when the property is sold ?on the courthouse steps? to the highest bidder. The sale usually takes place between 28-35 days after the entry of the final judgment of foreclosure. Many judges will give you 60 to 90 days if you attend the hearing.
Assignment of the foreclosure judgment is an appropriate method to acquire an interest in the instruments. An assignment of leases and rents, however, does not merge into the foreclosure judgment, and assignee may collect the rents from the property until the foreclosure sale.
If the judgment debtor does not pay, you are entitled to get the sheriff to seize the judgment debtor's property. The seizing of property by the sheriff is called a levy. Once the sheriff has levied on the property, the sheriff will then sell it, and pay you out of the money the sheriff receives from the sale.
You can't go to jail for failing to pay a debt or a judgment. However, if you do not pay a debt, or if a judgment is entered against you, this information can be reported to credit bureaus and made a part of your credit history. This information can be reported for up to seven years on your credit reports.
Final judgments issued in Florida are the culmination of a lawsuit. They can come at the end of the process from a trial or beforehand through certain procedural mechanisms like default or summary judgment or from an unperformed settlement agreement.