In Florida, the amount of time a Homeowner has if there is a Foreclosure Sale can vary. Generally, the Court will set a date between 45 to 120 days from the date of a Final Judgment of Foreclosure. If during this time, they are not attempting a Loan Modification or selling their property via Short Sale, it will be unlikely that it will be cancelled. As a result, they will lose their property. Therefore, it is important that they try to complete the Modification or Short Sale.
How much time does a Homeowner have if the Foreclosure Sale is Cancelled?
If a Sale is scheduled, the Homeowner will have to try and cancel it. This occurs when they file a Motion to Cancel the Foreclosure Sale. If the Court agrees to cancel the Sale, it will usually be reset it for 60 to 90 Days. During this time the Homeowner must complete a Modification or Short Sale because it will not be cancelled again. Therefore, the amount of time can be between 4 to 6 months if they are able to have it cancelled. On the other hand, if it is not cancelled, they will have between 30 to 90 days.
The amount of time a Homeowner has if there is a Foreclosure Sale depends if they are applying for a Modification or Short Sale. If a Foreclosure Sale has been scheduled on your property, contact our office at (954) 990-7552.