The average Florida foreclosure takes more than 800 days to complete, over twice the national average of 348 days. Many factors contribute to the time it takes to foreclose, including volume of foreclosure activity, the latest wave of regulations, and whether or not the homeowner contests the suit. It goes a lot faster in Georgia, though.
Georgia is a non-judicial foreclosure state, meaning the lender can give notice, publish, and foreclose within 60 days with only the clerk and an attorney, no judge present. If the borrower stops paying, the lender can take action a lot faster to reclaim the property.
The pro side of this system is that it reduces the judges’ workload. If a homeowner does not care about the property, non-judicial foreclosure speeds up the process. The problem is, there are people who do care but who do not know any better. Non-judicial foreclosure is a short-cut that can make the homeowner give up too quickly without proof that the foreclosure plaintiff is the lender who owns the loan.
What Florida lacks in kudzu it makes up for in number of days to complete a foreclosure. Homeowners can use this time to their advantage, especially with a foreclosure defense.
You cannot put up a defense just to put off the inevitable, but with time as a side-effect of a foreclosure defense, you have the opportunity to seek alternatives, like a short sale or loan modification.
Your potential to maximize benefit in the foreclosure process depends on which side of the state line you live on. Foreclosure is just like anything in real estate: the top priority is location, location, location.