FL S1890

Reduces the statute of limitations for deficiency judgments on residential mortgages (1-4 family units) from 5 years to 1 year, beginning 11 days after foreclosure sale or acceptance of deed in lieu of foreclosure, with transition provisions allowing suits filed by July 1, 2013 under prior law.

Requires foreclosure complaints on residential properties to include affirmative allegations that the plaintiff holds the original note or specify factual basis for enforcement rights, and mandates certification of physical possession of the original note before judgment entry.

Caps deficiency judgments at the difference between the judgment amount and fair market value of the property on the date of sale, eliminating judicial discretion in determining deficiency amounts.

Expands expedited foreclosure procedures to allow any lienholder (not just mortgagees) to request summary judgment, requires hearings no sooner than the later of 20 days after order service or 45 days after complaint service, and establishes default judgment procedures when defendants fail to respond.

Creates expedited foreclosure process for abandoned residential properties based on evidence including failed occupancy attempts, visible deterioration, accumulated debris, and neighbor interviews, allowing the court to authorize faster proceedings upon utility company disclosures.