A Florida appellate court has explained,
Quote Quoting Chrestensen v. Eurogest, Inc., 906 So. 2d 343, 344 (Fla. 4th DCA 2005)
The time within which an action shall be begun under any statute of limitations runs from the time the cause of action accrues. § 95.031, Fla. Stat. "A cause of action accrues when the last element constituting the cause of action occurs." § 95.031(1), Fla. Stat.; see, e.g., Elmore v. Fla. Power & Light Co., 895 So.2d 475 (Fla. 4th DCA 2005). Analogously, in the negligence context, a cause of action for negligence does not accrue for limitations purposes until the existence of redressable harm or injury has been established. Peat, Marwick, Mitchell & Co. v. Lane, 565 So.2d 1323, 1325 (Fla.1990).

Before a cause of action for deficiency can accrue, there must be a final judgment of foreclosure and a sale of the assets to be applied to the satisfaction of the judgment. See Singleton v. Greymar Assocs., 882 So.2d 1004 (Fla.2004) (holding "a necessary predicate for a deficiency is an adjudication of foreclosure"); Grace v. Hendricks, 103 Fla. 1158, 140 So. 790 (1932) ("The order for deficiency judgment is so dependent on, and merely ancillary to, the foreclosure and sale that it would be absurd left standing alone.") (citation omitted). It follows that there can be no action for a deficiency where there has been no foreclosure judgment and sale.