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July 2014 Deadline for Older Foreclosure Deficiency Judgments – Small South Florida Banks and Credit Unions Increasingly Aggressive on Deficiency Collection Efforts

According to the new Florida Fair Foreclosure legislation, the deadline for a bank to sue a defaulting home owner for the amount left on a mortgage after a foreclosure (the deficiency) was changed from 5 years to 1 year, regardless of when the cause of action accrued....

Are Florida Short Sales a Favorite With Florida Lenders?: Florida Sellers Have Great Deals for Buyers – How Florida Short Sale Lawyers Can Help.

Last Update: 02/24/16 In a recent news article, it was reported that there is a “stigma” surrounding the Short Sale option in buying a home these days. CBSNews reported with a story entitled, “Is there a stigma with home “short sales”?” (Read the coverage...

Florida Deficiency Foreclosure Claims: Banks Now Have One Year Statute of Limitations Deadline to Pursue the Deficiency

Last Update: 08/01/16 In Florida, when the mortgage balance is more than the sales price of a home in foreclosure, there is a “deficiency” – stated another way – the deficiency is the amount due the lender when the sale proceeds in a short sale...

What Happens When Out of State Homeowners Who Owned Florida Real Estate Face Bank Collection Efforts in Their Home State (or Country) Because of a Florida Foreclosure Judgment?: Domesticating Judgments

For those who live outside of the State of Florida but who own or owned Florida real estate subject to foreclosure, the possibility of that foreclosure’s deficiency judgment being collected in your resident state is real. Florida Deficiency Judgments Have Five...

Florida Legislature Annual Session Begins Today: Proposed Laws That Impact South Florida Home Owners In a Big Way Are on the Table

Today, the 60-day annual session of the Florida Legislature begins, and the entire country is watching.  The next nine weeks are going to be a very important time for Floridians, especially Florida home owners. Things began with Governor Rick Scott’s State of...