Foreclosure Glossary

Foreclosure comes with a lot of unfamiliar words. Here they are in plain language.

Arrears

The total of missed payments, fees, and charges you're behind.

The document the clerk files after the auction. It generally ends the right of redemption.

The document that transfers ownership to the auction winner.

A court order for the amount still owed after a sale.

The court's ruling for the lender that sets a sale date.

A foreclosure that must go through court, as in Florida.

A public notice that a lawsuit affecting the property is pending.

Any option a servicer offers to help you avoid foreclosure.

Paying the full judgment amount to keep the home before the certificate of sale is filed.

The company that collects your payments and handles your loan.

The court notice telling you a case was filed and when to respond.

Money left over when an auction brings in more than the judgment.

A court order allowing the new owner to take possession of the home.

Other possibilities to discuss with your servicer, housing counselor, or attorney.

Every stage of a Florida judicial foreclosure, step by step.

A calm, practical checklist for the first day and first 20 days.

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