Third Federal and deficiency judgements?

[signal]

Does anyone have any experience with foreclosure with Third Federal? I am in Florida and trying to get an idea if they pursue Deficiency Judgements here.
I can look at the court records, and all of them are Foreclosures. I am not sure if a Deficiency case shows up as a different type of civil case, does anyone know?

[justbroke]

Florida foreclosures are typically judicial foreclosures since a.) Florida is a Lien Theory State, and b.) most lenders issues "Mortgages", not Deed of Trusts. Since it's a judicial foreclosure, the plaintiff/lender can seek a deficiency judgment upon foreclosure and sale at auction. The deficiency would be part of the foreclosure lawsuit.

Here's why you may not actually get a deficiency. If the bank attends the foreclosure hearing and someone bids less than the value and the bank decides not to use its "funny money" (value of their foreclosure judgment), then that would create the deficiency. The deficiency is created at the time of the foreclosure sale. The bank could then file a motion for deficiency in that same foreclosure case. They could set a value lower and you could be ordered to pay the difference... that's a deficiency judgment.

Whether that would happen? I can't tell you. I have not heard of recent deficiency judgments, but that's anecdotal. Most people are filing bankruptcy to avoid the deficiency.

(FYI, a deficiency could be a separate case, but most lenders would do it inside the foreclosure case to avoid filing fees.)