Escrow & Title
In a Florida mortgage foreclosure, the borrower has a 'right of redemption' allowing them to:
AConvert the mortgage to a lease
BPay the outstanding debt and reclaim the property before the foreclosure sale is completed✓ Correct
CReceive the property back after the foreclosure sale for up to 1 year
DChallenge the foreclosure in federal court
Explanation
In Florida judicial foreclosure, borrowers have the right of redemption — they can pay off the entire outstanding debt (plus costs and fees) to stop the foreclosure at any time before the court clerk files a certificate of sale.
Related Florida Escrow & Title Questions
- Florida's 'Construction Lien Law' (Chapter 713 F.S.) primarily protects:
- A Florida real estate broker who acts as the closing agent holds earnest money in their trust account. The funds remain in escrow until:
- In Florida, 'marketable title' means that the title is:
- When a Florida borrower fails to make mortgage payments and the lender files a lawsuit to foreclose, this is called:
- In Florida, a 'purchase money mortgage' (PMM) that is seller financing has which priority characteristic?
- Which type of title insurance policy protects the lender's interest in a Florida real estate transaction?
- In a Florida real estate closing, 'prorated real estate taxes' typically appear on the HUD-1/Closing Disclosure as:
- A Florida condominium purchaser has a statutory right to cancel the purchase contract within how many days of receiving the condominium documents?
Practice More Florida Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Florida Quiz →