Florida Foreclosure Update- Banks Must Prove They Own Your Note!
The 4th District Court of Appeal has ruled that the banks must prove they own your note before they can foreclose on your property.
This ruling may force the banks to dismiss some of their cases against homeowners and go back to start the foreclosure process over again after they get possession of the real note. This is good news for homeowners in the state of Florida- they get to have their day in court in order to prove their case. This of course, is also good for foreclosure defense attorneys and it is also good for Florida short sale agents because it gets us some more time to get a short sale approved for sellers who want to move on with their lives.
The Florida Supreme Court decided to take a case that had already gone to foreclosure. The bank had the note backdated ( allegedely) when they went to court against the homeowner. Even though the homeowner had lost his home the court still wanted to rule on this case because they said it would impact the foreclosure crisis in the state of Florida.
Then after that decision, the 4th District Court of Appeal ruled on the matter of the banks having to prove ownership of the notes they are foreclosing on.
Thousands of homeowners have said that the banks did not have the original note in their cases. Most of the banks end up finding the note before the final disposition of the foreclosure summary judgment but the appeals court ruled that the banks have to have ownership and prove ownership before they can even get started in filing a foreclosure summons and complaint against a homeowner.
The court said that if the bank has any doubt about the note, they should dismiss the case and then refile it later once this is resolved. The homeowner is entitled to an evidentiary hearing instead of the summary judgment hearing.
The summary judgment should not be used in cases where the homeowner wants a hearing. Summary judgments are not that common except in foreclosure cases.
Contact a Florida foreclosure defense attorney for futher information. We are not attorneys and we are not giving legal advice.
There are options to foreclosure. Contact Nestor and Katerina Gasset at 561-753-0135 for a confidential phone evaluation to go over your options to foreclosure.