Still, Furyk shot a two-under-par 69, and at eight-under 134, held a one-stroke lead over Brian Gay heading into the weekend.
He shot a 10-under-par round of 62 in the final round to get into the playoff alongside Brian Gay and Charles Howell III.
Brian Gay made a double eagle on the 501-yard, par-5 No. 1 when he holed a 5-iron from 198 yards out.
Brian Gay, who shot an even-par 71, is tied with Faxon in third place at 206.
Brian Gay of Orlando, Fla., was alone in third place at 134 after a 70 at the Dunes Course, with six players tied at 135.
The record low posted at The Heritage is a score of twenty under par shot by Brian Gay in 2009.
Mickelson followed up a first-round 66 with another one and tied Brian Gay for the lead in the Compaq Classic in New Orleans.
Brian Gay (Savage Beliefs)
Brian Gay had a double bogey on 18 that cost him second place and dropped him into a tie for third with Kirk Triplett at 17 under.
Brian Gay - bass guitar (1980-September 1981)