Q: This a Florida real estate related question:
I owned a 50 acre property with 3 rental homes with plans to eventually develop. A summary judgement for foreclosure was recorded on 9/14/2010, the property went back to the bank on 10/14/2010, and the certificate of title was issued on 11/20/2010. Since there was going to be a very large deficiency, I provided all of my financials to the bank and made an offer to settle the deficiency. I received no response and they did not record a deficiency judgement. They sold it a few months later for substantially less than what was owed. I understand that the Governor signed a new law in July 2013 reducing the time to pursue deficiencies from 5 years to 1 year for residential properties with up to 4 units. This law applied to deficiencies after July 2013. It's also my understanding, that he also gave until July 2014 to pursue deficiencies prior to 2013. Although I did have rental homes on the property, the loan was more of a commercial loan. Would this law help me?
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
