Florida Deficiency Judgments
Sunday, August 3rd, 2008Florida is a judicial foreclosure state and permits the lender to obtain a deficiecny judgment. The plaintiff lender may also elect to obtain a judgment years later and this is more common than having the lender obtain a deficiecny judgment in the foreclosure action. Essentially the lender may wait until the borrower is in a better financial position to pursue collection for the deficiecny through the courts in Florida.