Call Monica Karcz with Redfin for details or to schedule a confidential consultation: 813-728-1400
Receiving a late notice or foreclosure paperwork is stressful, but understanding the process gives you time and options. Florida is a judicial foreclosure state, so every foreclosure in Tampa and the rest of Hillsborough County goes through the circuit court. Here is how it typically unfolds.
1. Missed Payments and Notices
After a missed payment, your servicer will charge late fees and reach out. Federal servicing rules generally prevent a lender from starting a foreclosure until a loan is more than 120 days delinquent, which gives homeowners time to apply for help such as a loan modification, repayment plan or short sale. Most mortgages also require a written notice of default, often called a breach or acceleration letter, before the lender can file.
2. The Lawsuit and Lis Pendens
The lender files a foreclosure complaint in the Hillsborough County Circuit Court and records a lis pendens, a public notice that the property is involved in a lawsuit. You will then be formally served with a summons and complaint.
3. The 20-Day Response Window
In Florida, a homeowner generally has 20 days after being served to file a written response with the court. Missing that deadline can allow the lender to ask for a default. This is the moment to call a Florida foreclosure attorney, even if you plan to sell.
4. Mediation, Defense or Negotiation
While the case moves forward, you and your attorney can review your options: defending the case, negotiating a loan modification, arranging a short sale, a deed in lieu, or cash for keys. Contested cases can take many months, and sometimes longer, depending on the court and the facts.
5. Final Judgment and Online Auction
If the lender wins, the court enters a final judgment and sets a sale date. Hillsborough County foreclosure sales are held online through the Clerk of Court. After the sale, the clerk issues a certificate of sale and then a certificate of title, and the new owner can move to take possession.
6. After the Sale: Deficiency
If the auction brings in less than you owe, the lender may be able to pursue a deficiency judgment for the difference. Florida law generally gives lenders one year after the foreclosure sale to bring a separate deficiency action. A short sale with a written waiver of deficiency is one way to avoid this.
Where a Short Sale Fits
A short sale can happen at almost any point before the auction, but it needs time for marketing, lender review and approval. The sooner you start, the better. Monica handles pricing, marketing and finding a qualified buyer through Redfin, while Lyons Law Group handles the legal side, lender negotiation and closing. See how it all works on the Short Sale page.
Talk With a Tampa Short Sale Agent
If you are behind on payments, have received foreclosure papers, or simply owe more than your home is worth, you do not have to figure this out alone. Monica Karcz, a licensed Florida real estate agent with Redfin, works with The Lyons Law Group, P.A., an attorney-owned title company, on short sale and pre-foreclosure sales across Tampa, Hillsborough, Pasco and Pinellas Counties.
Call or text 813-728-1400, book a confidential consultation, or fill out the short sale questionnaire and upload photos of your home.
This article is general information, not legal, tax, credit or financial advice. Short sale approval is at the lender’s discretion. Talk with a Florida attorney and a qualified tax professional about your situation.
