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Is Florida a nonrecourse state

Updated: 8/19/2023

Wiki User

∙ 13y ago

Best Answer

No, Florida is not a non-recourse state. If a mortgage is foreclosed in Florida, the lender may sue for any deficiencies between the amount of the loan still owed by the borrower and proceeds from the sale of the asset. This applies to mortgages, home equity loans, etc.

Wiki User

∙ 14y ago

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Wiki User

∙ 9y ago

Yes, Florida is a "recourse" state. For a state to be a recourse state, it simply means a lender can ask you for extra payments even after you have had everything seized.

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Wiki User

∙ 13y ago

No it is not. However to obtain a deficiency judgment requires an additional court action and many banks are not pursuing a deficiency judgment.

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