FL H1453

Automatic 120-day stay of foreclosure proceedings on owner-occupied residential properties when mortgagor provides proof of current unemployment compensation benefits

Court shall impose remedies if mortgage holder or servicer engaged in fraudulent or bad faith acts, including modifying mortgage principal to prior year property appraisal value plus 20 percent, or allowing foreclosure only upon payment equal to initial down payment

Court shall award attorney fees, costs, and civil penalty equal to twice the mortgage amount owed to mortgagor upon finding of fraudulent or bad faith conduct

Prohibits deficiency judgments following foreclosure on homestead properties as defined by Florida Constitution Article VII, Section 6

Effective date July 1, 2012