You Still Own the House — and You Have Options
Getting a foreclosure notice or a lis pendens filing is a stressful moment. But it is not the end. In Florida, the foreclosure process goes through the court system, which means it takes time — typically anywhere from 6 to 18 months from the first filing to an actual auction.
During that entire window, you remain the legal owner of the property. That means you can sell it, negotiate with your lender, or pursue other options. The foreclosure only becomes final when the court enters a judgment and the property is sold at auction. Until that happens, you have the right to act.
What Happens After a Lis Pendens is Filed in Miami-Dade?
When a lender files a lis pendens with the Miami-Dade Clerk of Courts, it is the formal start of the foreclosure lawsuit. The filing is a public notice that says: a lawsuit is pending against this property.
What it does NOT mean:
- It does not mean you have been evicted
- It does not mean the bank owns the house
- It does not mean you cannot sell
The lis pendens attaches to the title and will appear in a title search, which is why most traditional buyers backed by bank financing will walk away. A cash buyer has no lender to satisfy and can close on a property with an active lis pendens.
Your Options When You Are Facing Foreclosure
💰 Sell for Cash
Fastest resolution. Close in 7–14 days. Stops the foreclosure immediately. Works even with an active lis pendens.
🏦 Loan Modification
Ask the lender to modify your loan terms. Takes months of paperwork and approval is not guaranteed.
📋 Short Sale
Lender agrees to accept less than what is owed. Requires lender approval — slower than a cash sale but avoids foreclosure on record.
⚖️ Bankruptcy
An automatic stay can temporarily stop foreclosure. Creates a separate legal process and long-term credit impact.
Of these options, a cash sale is the only one that resolves everything in a matter of days. The lender gets paid, the lawsuit is dismissed, and you walk away with whatever equity remains after the payoff.
How a Cash Sale Stops Foreclosure
When you sell your home to a cash buyer, here is what happens step by step:
- You accept the cash offer and sign a purchase contract
- A title company runs a title search and coordinates payoff figures with your lender
- At closing, the lender receives the full payoff amount directly
- The lender files a satisfaction of mortgage and the foreclosure lawsuit is dropped
- You receive any remaining proceeds after the payoff
From offer to closing, this process typically takes 7 to 14 days with a cash buyer — far faster than any other option available to you.
What If I Owe More Than the House Is Worth?
This situation — called being underwater or having negative equity — adds complexity but does not eliminate your options. If the proceeds from a cash sale are not enough to cover your mortgage balance, a short sale may be the path forward.
In a short sale, your lender agrees to accept the net proceeds from the sale as full satisfaction of the debt, even though it is less than what you owe. Florida lenders have become more experienced with short sales over the years. The process requires lender approval and takes longer, but the outcome — no foreclosure on your credit record — is worth it for most homeowners.
Common Questions
How long does the foreclosure process take in Florida?
Florida is a judicial foreclosure state, meaning the lender must go through the courts. From the lis pendens filing to auction typically takes 6 to 18 months, though Miami-Dade cases can run longer depending on court scheduling and whether the homeowner responds to the lawsuit.
Will selling my house stop the foreclosure?
Yes. When the sale closes and the lender receives their payoff, they have no basis to continue the lawsuit. The case is dismissed and the lis pendens is released from the title. The foreclosure is over.
How fast can a cash buyer close in Miami-Dade?
With no financing contingency, a cash sale can close in as few as 7 days in Florida. Title work typically takes a few days. If you have an upcoming auction date, a cash buyer can often work on an expedited timeline to close before it.
Do I need a real estate agent to sell during foreclosure?
No. When you sell directly to a cash buyer, there is no agent involved. No commissions, no listing, no showings. You deal directly with the buyer and a title company handles the closing.
What if there is already a court date scheduled?
A scheduled court date is not a hard deadline to sell, but it is a signal that the process is progressing. If a final judgment of foreclosure is entered by the court, the property will be scheduled for auction. You want to have a signed contract in place well before a judgment is entered if possible.
Does foreclosure affect my credit even if I sell beforehand?
If you sell the property before a foreclosure judgment is entered, the foreclosure does not appear on your credit as a completed foreclosure. You may still have missed mortgage payments that affect your credit, but avoiding the final foreclosure is significantly better for your credit long-term.
Can Acrux Trust buy my house if it is already in foreclosure in Miami?
Yes. We buy houses in foreclosure throughout Miami-Dade County. We make cash offers within 24 hours and can close on a timeline that works for your situation. Call us directly at (305) 925-2475 to discuss your property.
