Florida government foreclosure

A Florida government foreclosure can be caused by anything from a non-payment of city taxes to missing payments on a VA or HUD loan .

Let's briefly describe a few of these things:

1. non payment of taxes: if you fall behind on your tax payments, the city sells tax certificates on your property in the open market. After 2 years, the investor can request that the city hold a public auction on the property. The investors can't really get the house unless no one else wants it, so you shouldn't see this occur very often.


2. The Department of Veteran's Affairs guarantees to a lender up to 25% of the loan amount. This means the government is on the hook for the first 25% of the loan, so they'll work with you to help you avoid foreclosure. Just keep in mind that like most government programs, it's slowed by bureaucracy and paperwork.
   Click here to learn about Florida VA foreclosures



3. The Department of Housing and Urban development offers many programs that allow people to become homeowners with very little money down. They too, provide loan guarantees and are on the hook for a portion of the loan. If you have a HUD loan, expect them to try to work with you to get you out of this situation.
   Click here to learn more about Florida HUD Foreclosures