He once lived just steps from the ocean in a home valued last decade at more than $500,000 . But John Ericksen has fallen – far – and the bank that took away his Juno Beach home last year isn’t done with him yet.
In November, Riverside National Bank won a $151,461 claim against the down-and-out handyman who now resides in a one-bedroom trailer in Riviera Beach’s scruffy Ocean Tide mobile home park.
Called a “deficiency judgment,” the claim is what Ericksen, 59, still owes on the loan for a home he’s already lost.
“They are actually trying to get money from me?” said a surprised Ericksen when contacted by The Palm Beach Post. “Good luck with that one. I’m pretty much out.”
In Florida, banks have five years to file for a deficiency judgment and up to 20 years to collect. Read More.