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What this mean for foreclosure before July 1?

Orlando, FL |

Florida’s PMSI anti-deficiency law becomes effective on July 1, 2010. See
Fla. H.B. 35 (2010) (barring deficiency judgments after default on mortgages
securing homestead property).

Attorney Answers 2


Laws only have effect on the issues they relate to that occur after the law has taken affect. Therefore, any foreclosures prior to the law would not be governed by the law.

This response does not create an attorney-client relationship. Unless you are already a client of the Law Office of Preston H. Oughton, pursuant to an executed fee agreement, you should not use, interpret, or rely on this response as legal advice or opinion. Do not act on any information in this response without seeking legal advice. Preston H. Oughton (904) 854-6336.

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702.06 Deficiency decree; common-law suit to recover deficiency.—In all suits for the foreclosure of mortgages heretofore or hereafter executed the entry of a deficiency decree for any portion of a deficiency, should one exist, shall be within the sound judicial discretion of the court, but the complainant shall also have the right to sue at common law to recover such deficiency, provided no suit at law to recover such deficiency shall be maintained against the original mortgagor in cases where the mortgage is for the purchase price of the property involved and where the original mortgagee becomes the purchaser thereof at foreclosure sale and also is granted a deficiency decree against the original mortgagor.



Mortgage Foreclosure Actions on Homestead Property [CPSC]: Prohibits deficiency decrees in final judgments in foreclosure actions on homestead property. Specifies such deficiency decrees as unenforceable.


This was never passed.

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