Foreclosure Papers Tampa Eviction Notice Services

Even though the recent Great Recession is said to be easing its stranglehold on home ownership and job creation, property foreclosures continue unabated, with Florida leading the nation in foreclosure rates.

According to a recently released report by RealtyTrac, the foreclosure rate in the state was up more than 50 percent in 2012 compared with 2011—and 2013 figures are not looking any better.

The ABCs of Foreclosure Law

Since Florida is a “lien theory” state, where property acts as security for a mortgage, foreclosure is seen as a lawsuit and must go through the court system. In Tampa, lenders must go to the Hillsborough County Clerk of the Circuit Court and register the lawsuit by what is known as a lis pendens (notice of pending action), then inform the defendant by a service of process.

To keep the lengthy process moving – foreclosures in Florida can take up to two years and more – lenders can turn to professional process servers, such as Accurate Serve of Tampa.

Once the borrower is served, Florida law allows 20 days for their response, either by contesting the action, seeking a delay or adjournment, or by filing for bankruptcy. Barring a delay, and depending on the calendar of the circuit court, a default judgment may be issued within 180 to 200 days.

Accurate Serve has been serving Tampa since the location opened in 2012. The company was founded in 2009 in Lakeland and has since expanded to several offices in Florida, though none is restricted by geography from serving papers where needed.