The Florida House and Senate voted in favor of H.B. 87 on Monday, and the bill will now go to the desk of Gov. Rick Scott. The legislation is intended to streamline and expedite the legal process for foreclosures in Florida.

The Firm has taken immediate steps to protect our clients’ interests with extensive research of the bill and potential impact on all Florida foreclosure cases. Mortgage defense attorneys are attempting to rally support for a Gubernatorial veto of the bill. If the governor does not take action within fifteen days of the approval date, the bill will become law.

H.B. 87 Legislation Highlights:

  • Reduces the statute of limitations of deficiency actions from 5 years to 1 year.
  • Requires specific allegations and contents in complaint seeking foreclosure. Requires certification under penalties of perjury filed contemporaneously with the complaint that Plaintiff is in possession of the note. Requires affidavit under penalties of perjury attached to complaint for lost notes.
  • Protects the integrity on final judgment of foreclosure. Requires court to treat a collateral attack on a final judgment of foreclosure solely as monetary claim.
  • Limits the amount of any deficiency to the difference between the judgment amount, or in a short sale, the outstanding debt, and the fair market value at the time of sale, for owner-occupied residential property.
  • Authorizes “lienholders” (Plaintiff or defendant(s)) to request an order to show cause for the entry of a foreclosure judgment. Authorizes Plaintiff to seek an order requiring defendant(s) to make payments during the pendency of the foreclosure proceeding of non-owner-occupied residential real property.
  • Provides reasonable means of adequate protection for re-establishment of a lost note.

The Firm will continue to monitor all developments closely and is prepared to address any challenges or concerns. Please call today with any questions or concerns. We are here to guide you every step of the way.