“But it is often true that neither the assignor of the mortgage nor the previous “holder” of the note actually owned the debt nor were they authorized representatives of any party who could claim ownership of the debt, note or mortgage. Accordingly, no effective transfer occurred as to the debt, note or mortgage.”
Ryan Torrens, Esq., a Florida attorney who apparently does his homework, posted this article on his website.
For those of you in foreclosure who may wonder if you have any rights, the answer is yes, you do! I recently won a summary judgment against a foreclosing bank in a foreclosure case in Sarasota, Florida.
The bank was attempting to foreclose on a loan modification, which is not a negotiable instrument. [e.s.] See Bank of New York Mellon v. Garcia, 2018 WL 3286488 (Fla. 2d DCA 2018). The bank contended that it had standing to foreclose on the loan modification by an assignment of mortgage. However, the assignment of mortgage did not transfer the note, but only the mortgage. An assignment of mortgage that only assigns the note, not the mortgage, does not convey standing to the Plaintiff. See Peters v…
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