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2013 Florida Foreclosure Law


CS/CS/HB 87 passed the House on April 29, 2013, and subsequently passed the Senate on May 3, 2013. The bill provides several changes relating to the state’s foreclosure laws.

The foreclosure crisis has impacted Florida’s economy and negatively affected the judicial branch in terms of both funding and caseload. Foreclosing on a mortgage in Florida is a lengthy process. The average time between the first foreclosure filing and bank repossession is 853 days while the national average is 414 days.

The bill:

  • Reduces the statute of limitations for deficiency judgments on a foreclosure action from 5 years to 1 year and limits the recoverable amount of the deficiency in some cases.
  • Requires the plaintiff in a foreclosure action to provide information to the court upon filing of the case regarding a lost, destroyed or stolen promissory note.
  • Provides finality of a mortgage foreclosure judgment for certain purchasers of a property at a foreclosure sale while allowing for monetary damages.
  • Allows any lienholder, instead of just the mortgagee, to utilize the statutory expedited procedure; reduces the number of hearings from 2 to 1; and prohibits service by publication when using the expedited procedure unless the property is abandoned.
  • Defines adequate protections where there is a lost, destroyed or stolen note.

The bill applies to existing mortgages and to pending cases.

This bill may result in a short term increase in the workload of the courts and an increase in revenues from filing fees

The bill was approved by the Governor on June 7, 2013, ch. 2013 - 137, L.O.F., and became effective on that date.

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