by Larry Tolchinsky | Debt Collection - Mortgages, Deficiency Judgments, Dyck O'Neal, Florida Foreclosures, Foreclosure Rescue, Local Lawyers
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.... by Larry Tolchinsky | Debt Collection - Mortgages, Deficiency Judgments, Dyck O'Neal, Florida Foreclosures, Foreclosure Fraud, Home Loan Fraud, Loan Modification, Short Sales, Wrongful Foreclosure
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...
