Florida Foreclosure timeline

[justbroke]

So if FL moved to take FC out of the courts it would be for new mortgages?

Yes. You can only have a non-judicial foreclosure if there is a "power of sale" in the "security instrument". The security instrument is usually a Deed of Trust... not a Mortgage. In Florida, most security instruments are mortgages and don't contain the "power of sale" clause. A non-judicial foreclosure requires a "Power of Sale" clause in order for a non-judicial foreclosure to work. It also requires the use of Trustees to hold the deeds and to have the power to exercise that power of sale clause.

This is the problem with politicians... they are always trying to solve problems that happened in the past. Changing to a non-judicial foreclosure process would not help Florida's "current" foreclosure crisis... at all. It's the banks (and ABA) that are pushing for this.

And it's not like Florida is in some super-minority. More than 20 States have judicial foreclosures. So don't believe for a minute that Florida is somehow "different" than other States.

[Freddy03]

Wouldn't matter because most people have Mortgages and not a Deed of Trust. There is no power of sale clause in my Mortgage, so non-judicial foreclosure can't happen. This would be for new loans and promissory notes.

http://kramerlawfirm.visibli.com/share/TfX5gl

So if FL moved to take FC out of the courts it would be for new mortgages?

[justbroke]

I read over the weekend that Gov Scott is trying to get FC out of the courts. It did not state what would happen to all the backlog FC in the system now. I'm hoping this doesn't happen anytime soon...urgh

Wouldn't matter because most people have Mortgages and not a Deed of Trust. There is no power of sale clause in my Mortgage, so non-judicial foreclosure can't happen. This would be for new loans and promissory notes.

[Freddy03]

I read over the weekend that Gov Scott is trying to get FC out of the courts. It did not state what would happen to all the backlog FC in the system now. I'm hoping this doesn't happen anytime soon...urgh

[cory1848]

Yesterday I received a Certified Return Receipt Requested letter from my servicer. I was starting to get nervous about what it could be. When I opened it, it was just another letter letting me know about their modification options with them and to call to set up a work out program. I have received 2 of these previously but just through regular mail. Why the need for the CMRRR? Maybe they are now just starting to cover their butts when sending stuff? Not sure...

[cory1848]

Just checked the county records and a new entry has been posted. All it says is "Undelivered Envelope" 2 pages. The previous notice of Lack of Prosecution was only one page. Totally stumped as to what this might be. Wish they were more descriptive on the county site.

[JvilleGarden]

9/21/11

Our last payment was 2/2010, discharged 3/11/11, house was IIB. We received our notice of acceleration in late July/early August, and shortly thereafter received a formal (but not certified or anything like that) letter from the mortgage company's atty. Last week a I got a letter from the mortgage company with a contact name & number for their loss migitation department. No other action has been taken. This appears to be a S-L-O-W process.

[Freddy03]

How are you keeping track of this? Just by searching your local county's site and looking at cases more than 10 months out?

I'm checking the county's site daily and keeping a spreadsheet of the timelines. I'm only keeping track of WF new and old cases.

[cory1848]

I have been trying to keep track of foreclosure cases in my county and recently noticed quite a few cases were closed b/c of lack of prosecution. I'm guessing if no moves are made after a certain amount of time the judge closes it.

How are you keeping track of this? Just by searching your local county's site and looking at cases more than 10 months out?

[Freddy03]

Good to know. Thanks for the first hand knowledge! Court sent out 4 notices. One to my wife and one to me. The other 2 I hope get lost in the mail. lol

I have been trying to keep track of foreclosure cases in my county and recently noticed quite a few cases were closed b/c of lack of prosecution. I'm guessing if no moves are made after a certain amount of time the judge closes it.

[cory1848]

One of mine did. The judge closed a bunch of cases for lack of prosecution. It was about 100+ cases that weren't being prosecuted. However, I was in a Chapter 13 and that foreclosure SHOULD HAVE BEEN dismissed when I was confirmed!

Good to know. Thanks for the first hand knowledge! Court sent out 4 notices. One to my wife and one to me. The other 2 I hope get lost in the mail. lol

[justbroke]

I have read that all the firm has to do is file a notification with the court. That notification could be for anything like... Firm went on vacation and will deal with the case whenever we want to... and that resets the 10 month clock. Hoping they won't do that cause on Day 61, I will file for Dismissal. I am hoping what you say is true, but all the research I have read, and there doesn't seem to be much out there, says that the lender rarely lets it go to dismissal. They always file something. Time will tell...

One of mine did. The judge closed a bunch of cases for lack of prosecution. It was about 100+ cases that weren't being prosecuted. However, I was in a Chapter 13 and that foreclosure SHOULD HAVE BEEN dismissed when I was confirmed!

[cory1848]

It just depends on a bunch of things. A lender could change attorneys, but I'm thinking that for Florida, the case will probably be dismissed for lack of prosecution. There aren't many foreclosures going on these days in Florida... at least at the rate they were.

I have read that all the firm has to do is file a notification with the court. That notification could be for anything like... Firm went on vacation and will deal with the case whenever we want to... and that resets the 10 month clock. Hoping they won't do that cause on Day 61, I will file for Dismissal. I am hoping what you say is true, but all the research I have read, and there doesn't seem to be much out there, says that the lender rarely lets it go to dismissal. They always file something. Time will tell...

[justbroke]

It just depends on a bunch of things. A lender could change attorneys, but I'm thinking that for Florida, the case will probably be dismissed for lack of prosecution. There aren't many foreclosures going on these days in Florida... at least at the rate they were.

[cory1848]

The Notice is basically telling the plaintiff, lender, that they need to send something to the Court to convince the court that the lawsuit should continue. The lender's attorney usually does answer this and it resets the clock.

If the case is dismissed for lack of want of prosecution, then the lender would need to start ALL OVER... including a new Notice of Deficiency.

Do you think this will actually cause them to move forward with the case or just sit on it some more? Does the lenders attorney have to be the same attorney listed in the case filing? I don't think the original lenders attorney is still with the firm.