Florida Deficiency Judgments – What is Fair Market Value?

Larry | December 11, 2009

A deficiency in the Florida mortgage foreclosure setting is the difference between the value of a lien on real property (the amount due to fully satisfy a debt) and the price obtained by the creditor-mortgagee after foreclosing on the property. For example, if you owe $150,000.00 on your mortgage and your home is foreclosed and [...]

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Estate is Liable for Mortgage Deficiency, Not Heirs

Larry | December 3, 2009

A client contacted me the other day with a very interesting situation. His father was a citizen of Canada and maintained a winter home in South Florida. His father had named him on the deed to the property so that it would pass to him upon his father’s death. And while this kind gesture might [...]

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