Re: 2013 New Statute And Short Sales In Florida


LoanSafe Member
I can't seem to get a reasonable answer from anyone regarding a situation I had in 2010 and I'm hoping I can get some input on this forum.

I sold my condo in Florida in May 2010 and did not get a deficiency waive from Chase. After the PMI kicked in and I agreed to pay the PMI company $2,000 (just a repayment, not payment in full or settlement) I thought all was well and just waited for the 5 year statute to end this agony.

Over the years I received calls from different scavenger collection companies but my lawyer made them go away.

Now, only one month from the 5 year window, Im getting a letter from company called Client Services asking me for the full balance.

The new laws signed by Rick Scott in 2013 brings deficiency actions to no more than one year from the transer of title or payment to lender or if before July 2013, the statate ends on July 14 2014 for people that had transaction prior.

No where in the law does it contain verbage for short sales and the one year max but according to some lawyers it can be construed as including short sales and to other lawyers, the five year window still is in effect.

Any help here and what about this company sending me a letter only one month before the old 5 year maximum statute?


LoanSafe Member
They can continue to send you collection letters even after the SOL has passed, they are just hoping that you will somehow contact them & they can convince you to make a payment or something that they can use to re-age the debt.
Although they can file in the next month, I doubt that they will, IMO, If they were going to file they would have already done so.
I have credit card debt that has passed the SOL and I still get collection letters and offers to settle, I have noticed that on some of them in small print on the bottom it says that due to the age of the debt they will not sue to collect.
Keep checking the county records for the next month and if they file something try to avoid getting served, I had a suit filled and after a year of them been unable to serve me they dismissed it, although they can re-file or re-open that suit, I doubt they will as they will likely move on to others that are easier to serve.


LoanSafe Member
I have attached and excerpt from the new a lay person, it seems very clear and evident to me that short sales ARE included in the one year deficiency and the amount the can be pursued is the difference between the actual market value of the property at the time of sale and the amount of indebtedness.

Please, take a look at this and if I'm not interpreting this correctly, enlighten me...I have asked numerous attorneys and none of them can assert that short sales are indeed included. How can't they see this in black and white or do they just wish to stay neutral? See line 220:

"702.06 Deficiency decree; common-law suit to recover deficiency.—In all suits for the foreclosure of mortgages heretofore or hereafter executed the entry of a deficiency decree for any portion of a deficiency, should one exist, shall be within the sound discretion of the court; however, in the case of an owner-occupied residential property, the amount of the deficiency may not exceed the difference between the judgment amount, or in the case of a short sale, the outstanding debt, and the fair market value of the property on the date of sale. For purposes of this section, there is a rebuttable presumption that a residential property for which a homestead exemption for taxation was granted according to the certified rolls of the latest assessment by the county property appraiser, before the filing of the foreclosure action, is an owner-occupied residential property. The complainant shall also have the right to sue at common law to recover such deficiency, unless the court in the foreclosure action has granted or denied a claim for a deficiency judgment.
History.—s. 1, ch. 11993, 1927; CGL 5751; s. 1, ch. 13625, 1929; s. 5, ch. 2013-137."
Is there a statute of limitations if a house was in foreclosure but it was vacated and sale cancelled? It has been 5 years since last payment. Or does statute of limitations start when they issue a lis penden? I am in FL as well. Or am I still open game even though the mortgage was charged off?