Anyone know how long a Florida foreclosure takes on a private 1st? - Posted by FJW

Posted by FJW on December 29, 1999 at 17:55:06:

Mr. Morrongiello

Thanks for the info. I know, that you know, that I know, that you know…(sorry, got carried away). I know you can speak with authority on this issue. It’s very much appreciated and EXACTLY what I needed. It’s amazing to me how some “professionals” will unwittingly downplay the risks on someone elses investment.

Happy New Year

Anyone know how long a Florida foreclosure takes on a private 1st? - Posted by FJW

Posted by FJW on December 28, 1999 at 17:59:55:

I’m hearing different stories on how long it may take for a foreclosure on a private first. It’s in Pinellas County, Florida, with only a 63% LTV. I’m aware they can be drawn out, and I’ve heard stories where it’s taken over a year with a bank, but a local attorney is claiming it only takes two months. Any opinions?

Thank you.

Been there , Done that… - Posted by Michael Morrongiello American Note

Posted by Michael Morrongiello American Note on December 28, 1999 at 22:43:33:


I have gone through many in Hillsborough, Pasco, & Pinellas counties in Florida.

Once you file & have the debtor officially served there are time laspes between hearings that provide time to the defaulted debtor for him / her to respond and get their response in order. If you have a real PRO attorney follow through on this action and there are no delays in hearings then optimistically it will take a minium of 120 days before you will have a courthouse auction take place and you have a certificate of title issued to you by the Pinellas County, FL clerks office
Anyone who tells you it will take a shorter time frame is unrealistic.

The unknowns are whether the debtor will cause delays to the hearings, or worse decide to seek refuge in bankrupcty court. This can then add considerable unknown amounts of time to the whole process before you as a secured creditor will be able to obtain title. (I recently completed a 24 month foreclosure where the debtor filed Chapter 13 bankrupcty)

I know of a VERY competent legal counselor who can work with you if you need assistance.

NOTE: It is almost always much cheaper to work out a deed in lieu or some other solution where you can even PAY the debtor to deed you the property than to litigate.

Michael Morrongiello
Operations Manager