Florida Senate - 2013                                    SB 1226
       By Senator Soto
       14-00233-13                                           20131226__
    1                        A bill to be entitled                      
    2         An act relating to homestead foreclosure relief;
    3         providing for application to homestead property
    4         mortgaged within a certain time period; providing a
    5         statute of limitations for entering a deficiency
    6         judgment; limiting the time period the lienholder can
    7         collect moneys owed; providing that the collection
    8         time may be tolled if the debtor commits fraud or if
    9         the debtor is held in contempt of court; providing an
   10         effective date.
   12         WHEREAS, real estate in Florida entered a rapid and
   13  unnatural state of appreciation during the years between 2004
   14  through 2008, and
   15         WHEREAS, Florida has experienced a real estate crisis
   16  consisting of high foreclosure rates and rapidly declining home
   17  values, and
   18         WHEREAS, Floridians owe massive mortgage debt on homes
   19  already lost to foreclosure, and
   20         WHEREAS, the Legislature finds the expeditious collection
   21  or waiver of such mortgage debt to be a compelling government
   22  interest and necessary for the protection of this state’s
   23  residents and the economic recovery of the state, NOW,
   26  Be It Enacted by the Legislature of the State of Florida:
   28         Section 1. This section applies to any mortgage on
   29  homestead property located in this state and entered into on
   30  January 1, 2004, through December 31, 2008.
   31         (1) The statute of limitations for entering a deficiency
   32  judgment is:
   33         (a) One year after entry of the final judgment of
   34  foreclosure; or
   35         (b) July 1, 2014, if the final judgment was entered before
   36  July 1, 2013.
   37         (2) If a deficiency judgment is entered within the statute
   38  of limitations in subsection (1), the judgment holder has 2
   39  years to collect all moneys owed. Equitable tolling of the 2
   40  year period may be granted if a lienholder establishes fraud or
   41  contempt of court by the debtor.
   42         (3) A lienholder who violates this section is liable to the
   43  debtor for actual damages or elimination of the lien in equity,
   44  and attorney fees and costs.
   45         Section 2. This act shall take effect July 1, 2013.