As a result of the enactment of the Florida Fair Foreclosure Act, Section 95.11, Florida Statutes has been amended to shorten the statute of limitations on deficiency judgments. Previously, a lender had 5 years after the foreclosure sale to file an action to obtain a deficiency judgment. Now, a lender must file an action for deficiency within 1 year of the foreclosure sale. The amendment to this statutory provision became effective on July 1, 2013 and applies to all actions for deficiency judgments filed after July 1, 2013. This new shorter limitations period applies to an action for a deficiency judgment filed after July 1, 2013 where the foreclosure action was filed before July 1, 2013.
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