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Banks have less than 30 days to file suit against homeowners for deficiency judgments

Tue Jun 3, 2014 by on Florida Law News

Starting today banks have less than 30 days to file suit against homeowners for deficiency judgments if the foreclosure judgement was entered any time before June 30, 2013. If the banks miss the deadline, the banks’ rights to continue with a deficiency for these older cases is over. After July 1, 2014 if one is foreclosed upon, in Florida, the lender will have 365 days to proceed with filing suit for a deficiency judgment.
Last year the legislature shortened the time a bank had to file from 5 years to 1 year. So, yes we are seeing a flurry of banks filing for deficiency cases before the clock strikes midnight at month’s end.

For more information concerning this issue feel free to watch Roy Oppenheim from ” In the Trenches” on the South Florida law Blog and find out right here.

Tags: banks, deficiency judgments, foreclosure, homeowners, Real Estate

4 responses to “Banks have less than 30 days to file suit against homeowners for deficiency judgments”

  1. […] interesting note is that you could get lucky if you beat the bank again in the re-foreclosure process. In some situations the banks will not be able to re-foreclose a […]

  2. elliotsperry says:

    my homesteaded house was foreclosed  dec 2011 without me ever being personally served. can a deficiency judgment be brought against me?

  3. […] I have explained in my previous blog posts and YouTube videos, July 1st 2014 was a key date in terms of deficiency judgments.  If a bank had […]

  4. […] or also morally bankrupt. Either way, it is what it is as I have explained in my previous blog posts and YouTube […]