May 17 2010
Lost, Stolen or Destroyed Promissory Note? Stop Foreclosure! Make the Bank Produce the Original Mortgage Note!
Has the Bank alleged that the Note has been lost, stolen or destroyed? Then demand that they either produce the original Note! This can not be reiterated enough! This is incredibly important to fighting your foreclosure and staying in your home! Make sure you have an experienced foreclosure lawyer. We can give you a free consultation if you do not understand. The Freedom Law Firm’s main office is in Orlando, but we represent people just like you throughout Florida.
The Bank must either 1) produce the original promissory Note or 2) prove how they came into ownership of the Note. The Bank will usually rely on Florida Statutes section 673.3091 in order to re-establish a lost, stolen or destroyed promissory note. Does this mean that the Bank cannot foreclosure until they produce the original note? NO! That is why you need to have an experienced foreclosure lawyer! You need to have a foreclosure lawyer who can demand and examine all of the pertinent documents to find who is the actual owner of the mortgage note. This is vitally important to your success in defending your foreclosure! You need to find a chain of title from the original lender to the Plaintiff. This chain of title is proven through the production of Assignments. Look at the Complaint, is there documents that are labeled “Assignment of Mortgage”? If the Bank is not in possession of the original Note, then you need to demand that the bank produce either 1)the original note or 2) a complete chain of title of all Assignments of Mortgage. An assignment of a mortgage is basically a receipt which is recorded with the Comptroller. The assignment of mortgage will show when the equitable interest of the loan was transferred and what amount was paid for the promissory note.
The time that the note was transferred is very important. It can mean the difference in the Bank’s attorney winning a Final Summary Judgment hearing or the Bank’s case being dismissed. I cannot emphasize enough how important it is to find a successful foreclosure lawyer in Orlando. Foreclosure defense is affordable and there are payment plans available. It is a small price to pay for the huge amount of relief it will most assuredly provide. A foreclosure lawyer can demand that the Bank provide all necessary documents. A well versed foreclosure lawyer can articulate to the Judge the precise reason why the Bank is not entitled to foreclose on your home. It could mean the difference of you living in your home for a few months or living in your home for several more years without making another payment to the Bank. The Freedom Law Firm prides itself in becoming the best foreclosure defense team in Orlando. When you need an experience Orlando foreclosure lawyer, call The Freedom Law Firm and we will provide a foreclosure lawyer that takes pride in every step of defending your foreclosure. Stop Foreclosure! Save your home! Foreclosure Lawyers Orlando! Call Charles W. Franklin, Esq. directly at (407)883-2618.