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A Foreclosure can be a very complicated and tricky matter. I recommend anyone going through a foreclosure to learn the laws regarding foreclosure in their state. This site is particularly focused on the foreclosure laws in the state of Florida, as this seems to be one of the hardest hit areas during this foreclosure crisis.
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Friday, May 13, 2011
Florida Statute 702.06 - Foreclosure Deficiency Decree
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 judicial discretion of the court, but the complainant shall also have the right to sue at common law to recover such deficiency, provided no suit at law to recover such deficiency shall be maintained against the original mortgagor in cases where the mortgage is for the purchase price of the property involved and where the original mortgagee becomes the purchaser thereof at foreclosure sale and also is granted a deficiency decree against the original mortgagor.
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Hey, nice info!, very informative post.............
ReplyDeleteNo one needs an attorney to tell them that bankruptcy is a complicated process. However, a bankruptcy attorney can provide the assistance necessary to get through this stressful process.
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