Can Foreclosure be Reversed?
In Florida, there are legal pathways to stop a foreclosure even after the foreclosure auction has taken place through what is called the “Statutory Right of Redemption.”
Pursuant to Fla. Stat. §45.0315, a homeowner is permitted to reverse a foreclosure sale after the property has been sold at auction if they are able to meet the requirements to cure their debt. The process is called “redeeming” the home.
Right of Redemption in Florida
According to Florida law, homeowners may be able to redeem, or get back their home, if they can pay off the total debt owed, including the principle, interests and fees, within a given timeframe.
A foreclosed home in Florida may be redeemed any time before the later of:
- When the clerk of the court files the certificate or sale, or
- The time specified in the judgment, order, or decree of foreclosure
If you are interested in trying to redeem your home, but no judgment, order, or decree of foreclosure has been rendered in your case, you may still have an opportunity to pay back the full amount due under the terms of your mortgage. This will be in addition to paying for foreclosure expenses.
Redeeming your house after the foreclosure auction should be done in close consultation with an experienced foreclosure defense attorney. But before you reach this point in the foreclosure process, ask for help.
At Jacobs Legal, we’ll help you understand your numerous options for fighting the foreclosure and keeping your house. You might be surprised by just how many options you have. To learn more and to schedule a confidential consultation with our experienced team of trial lawyers, contact us today.