Foreclosure Law

This is only a general overview of Florida foreclosure law and not legal advice. Only a lawyer can offer legal advice.



Each state has various laws regarding foreclosure - and they do vary from state to state. These laws mostly dictate timetables - how long and what a lender must do before taking your property and how long and what you must do to prevent that from happening. There are very few laws and regulations to protect you from predators and loan sharks.

Equity of Redemption and Right of Redemption

Equity of Redemption, sometimes referred to as Equitable Right of Redemption, is the right to pay off the lien of a mortgage which is in default by payment of the principal, interest and all additional fees which are due. In Florida, this must be done prior to a sheriff's sale or auction date.

Right of Redemption is the right allowed by law in some states, (NOT IN FLORIDA), whereby a mortgagor (you) may buy back property by paying the amount owed on a foreclosed mortgage, including interest and fees.