What is judicial foreclosure?

Judicial foreclosure is a type of foreclosure that takes place in a court of law. In judicial foreclosure, the lender must file a lawsuit against the borrower in order to repossess the home. The lawsuit must be served to the borrower, who then has an opportunity to respond and contest the foreclosure. If the borrower does not respond to the lawsuit, the court can enter a default judgment in favor of the lender. Then, the court will issue a foreclosure order allowing the lender to repossess the home. In judicial foreclosure, the lender must also give the borrower a chance to repay their debt before repossessing the home. If the borrower is able to make the payments, they can keep their home. However, if the borrower fails to make payments, the foreclosure process will move forward. In Florida, the foreclosure process can take up to two years, depending on the specific circumstances of the case.

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What is judicial foreclosure?

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