Does Florida Have Anti Deficiency Laws? In Florida, a mortgage foreclosure does not automatically result in a deficiency judgment. … If the court finds that the foreclosed property was worth more than the note balance on the sale date, the court will not give the mortgage lender a deficiency judgment against the borrower. What states
What Is A Deficiency State? In the context of a foreclosure, a “deficiency” is the difference between what a borrower owes on a mortgage loan and the price at which the house is sold at a foreclosure sale. … An “anti-deficiency law” is a state statute (law) that prohibits foreclosing banks from suing borrowers for
When Can A Lender Obtain A Deficiency Judgment Against A Borrower In Florida? Florida allows deficiency judgments: If the borrower was personally served with a foreclosure complaint, deficiency judgments may be obtained by the lender. The lender also has the option to file a separate lawsuit for deficiency, unless the court says otherwise. When can
Does A Redemption Period Apply In Ohio? Does a redemption period apply in Ohio? Yes, an Ohio borrower may redeem a foreclosed property during the time period between the foreclosure sale and when that foreclosure sale is confirmed by the court. The borrower must pay the outstanding balance of the loan plus any fees and
Does Florida Allow Deficiency Judgments? Does Florida allow deficiency judgments? In Florida, the lender may obtain a deficiency judgment as part of the foreclosure action if the borrower was personally served with the foreclosure complaint. The lender may also file a separate lawsuit against the borrower for a deficiency judgment unless the court denied one