I hold a 3rd mortgage on a hotel in Charlotte County Florida, the owners of the property are in defult. How do I file forclosure against them,

Dear Lynne, Whether you hold a first mortgage, a second mortgage, or a third mortgage, the process for foreclosure is the same.  You would need to look at the mortgage documents and determine what type of notice is necessary, if any, and provide that Notice of Default and Notice of Foreclosure in the manner and within the time as determined by the loan documents.  Once you have provided those notices, then you may file suit in the county in which the property lies.  With that said, I would need to forewarn you.  Many properties, if  not most properties in Florida, have mortgage amounts that are greater than the market value of the property.  Being a third mortgage holder, you are in a very difficult position because upon foreclosure, the first mortgage and second mortgages would be satisfied first.  The possibility is very high that after the first and second mortgages were satisfied, there would be no more money left to pay off the third mortgage.  You could then find yourself in the position where you paid the costs of filing foreclosure and ended up with nothing.  For this reason, second and third mortgage holders often will not file for foreclosure and instead will try to work with the owners of the property in attempting to create a payment plan wherein the owners could afford to pay the mortgage in a modified payment plan.  Before you decide how to proceed, I advise you determine the market value of the property and the amounts owed on the first and second mortgages. Sincerely, Wendy Mara Disclaimer: This answer is in response to a general question and does not constitute an attorney client relationship.  Contact an attorney in your state in order to determine the state specific laws that are applicable.