FL S0496

Creates the "Foreclosure Debt Claims Act" establishing a deficiency judgment reimbursement program administered by the Florida Housing Finance Corporation, contingent upon receiving a minimum of $100 million from the U.S. Department of Treasury's Housing Finance Agency Innovation Fund for the Hardest-Hit Housing Markets.

Defines eligible homeowners as those who purchased homestead property between January 1, 2004, and December 31, 2008, and are subject to foreclosure actions by participating financial institutions.

Entitles eligible homeowners to a waiver of deficiency judgment and up to $1,000 in moving expenses if they agree in writing to settle the foreclosure with a nonmonetary judgment and vacate the property within 3 months.

Allows participating financial institutions to file claims for reimbursement equal to 10 percent of the deficiency from foreclosures settled under the program agreement.

Establishes program termination 1 year after funds are received, with authority to continue under legislative appropriation if funds are depleted before the scheduled termination date to pay pending claims.