Naples Florida Foreclosure Listings Series

A foreclosure is the legal procedure where the lender takes back a house when the homeowner can no longer pay the mortgage. There are several steps to the foreclosure process that all start with the homeowner not paying the mortgage.

After 3 to 4 missed payments the lender accelerates the loan, calling the full amount due, and files a Lis Pendens. The acceleration clause in your mortgage gives them the power to do this.

The case then proceeds through the legal system and unless the mortgage is brought current by the homeowner the court will award the property back to the lender. This process takes approx 135 days in Florida.

The lender will then attempt to sell the property "on the court house steps". In Collier County it takes place on the 6th floor at 11am. If they are unsuccessful they will list the property with a real estate agent as a REO and sell it.

If you are interested in Naples Florida Foreclosure Listings visit my website by clicking the text link and sign up for a free list. If you have any questions on foreclosures you can contact me via the form at the bottom of this page.

Naples Foreclosure Expert,

Benjamin Sovacool