Should I move back in abandoned home after 3 yrs sitting Vacant-still not foreclosed

[tobee43]

The dupe was already removed.

that's cuz you are on the ball!!

[venicehope]

This is where I'm confused. Is the lien also the mortgage. The mortgage is all that is filed by World Sav. NO deed or Cert. of Title.

Also, the house was up for a county tax sale that "i think" World paid, they also have it insured. Or at least did two years ago.
Would the tax sale qualify as a lien? Is that the tax deed you speak of? I remember reading about a time frame of some three years without contest before the tax receipt can be applied for the tax ded. Isn't there a time frame in which I can repay that to gain the house back?

[justbroke]

This is where I'm confused. Is the lien also the mortgage. The mortgage is all that is filed by World Sav. NO deed or Cert. of Title.

The Mortgage is known as the Security Instrument. This is the "lien" that gets recorded. A "deed" is something entirely different (unless it's a "Deed of Trust"). Deeds relate to "title" of a property. A security instrument, being a Mortgage or Deed of Trust, is what effectuates a lien on property. It must be recorded to ensure priority.

Also, the house was up for a county tax sale that "i think" World paid, they also have it insured. Or at least did two years ago.

So, there is no tax sale because the Bank paid the taxes. That's good.

Would the tax sale qualify as a lien? Is that the tax deed you speak of? I remember reading about a time frame of some three years without contest before the tax receipt can be applied for the tax ded. Isn't there a time frame in which I can repay that to gain the house back?

In Florida, the Counties sell "tax certificates" when you don't pay property tax. In other words... someone else pays the tax as an investment. Depending on the market, they could buy a certificate that collects 0.25% to 18% in profits on the investment. Generally, the tax certificate is paid off within the requisite 2 year period. If not, then the holder of the tax certificate can apply for a tax deed. There's a little more to it, but I'm generalizing. If they were to obtain the property with the tax deed, and the lender NEVER RECORDED A LIEN, then the tax certificate holder -- now holding the deed -- could redeem a property that has no encumbrances. The tax certificate is a type of "tax lien" against the property.

If you're concerned about the state of your taxes, check your County's Tax Collector website. You'll be able to see if your are Current, In Litigation, or In Arrears. Most banks will make sure the taxes are up to date because they do not want to lose the property in a tax deed sale!

[dstreet]

The bank can't foreclose, The assignments are done incorrectly

I have seen this alot , The bank did not properly file the assignments . That simply means unless they can fix the problem somehow they do not have Standing to foreclose.

I am with some of the other posters , check with a local Attorney on laws and rules in your area & if you are still on the title move back in.

I realize that money is tight so Securitization Trust Identity Research may be out of reach at this time but you might want to look into that if you move back in and things get better for you.

Good luck.

[justbroke]

I have seen this alot , The bank did not properly file the assignments . That simply means unless they can fix the problem somehow they do not have Standing to foreclose.

Sorry, but assignments mean nothing, really, when it comes negotiable instruments that are bearer instruments. The assignment just protects the holder of the Promissory Note (Note) from priority issues when it comes to the lien. So much so, that all Courts agree that the Mortgage is "incidental" to the Note and once the Note passes, the Mortgage (security instrument) passes as well. Assignment issues are easy to fix anyhow. It's really the original indorsed Note that is necessary to actually foreclose in Florida. Lender's are now proud to "show you the Note" since much of the procedural issues are fixed. However, the robo-signing of the assignments got out of hand and foreclosures have slowed to all but a crawl in Florida... with the Florida specialized foreclosure courts -- rocket docket -- being closed as well.

Remember, an assignment is still valid even if not filed! Even the FLorida Statute says this! It simply reads, in F.S. 701.02 (1) that "[a]n assignment of a mortgage upon real property or of any interest therein, is not good or effectual in law or equity, against creditors or subsequent purchasers, for a valuable consideration, and without notice, unless the assignment is contained in a document that, in its title, indicates an assignment of mortgage and is recorded according to law." In other words, it only goes to priority and other claims... not to who "owns" the note or has standing to foreclose! The fight really is just to delay the process. The house always wins... to use a Vegas term.

I am with some of the other posters , check with a local Attorney on laws and rules in your area & if you are still on the title move back in.

I agree that that poster should check SOLELY the Florida County's property appraiser's office to see who is listed as property owner. Other than that, this is not a case of even fighting a foreclosure, yet.

I realize that money is tight so Securitization Trust Identity Research may be out of reach at this time but you might want to look into that if you move back in and things get better for you.

A free house is not going to happen. The fact that there is an unreleased (unsatisfied) recorded mortgage and note, is all a Judge needs to ask the homeowner "so, did you pay or not?". (True story in Florida!) The only thing you can argue is that the wrong entity is foreclosing. Hard to argue that you never had a mortgage!

[TBA]

Dont forget about the five year SOL in Florida - FS 95.11 2(c) - However - consult your attorney. There are only a few case laws i have seen in my own exploration based on your mortgage and clauses within it.

[venicehope]

when would the statue of limitations date start from?
Filing of Lis pendens?
last mortgage payment
discharge date
the last associated action i.e. filing to drop deffendant

At this point i just don't know if i should proceed to clean up our homes yard, & interior. Get the services hooked up & move in? There was a note on the door from a property perservation co. stating....
The ---Co. has inspected this property and found it to be vacant or abandoned. The mortgage holder has the right and duty to protect this property. Accordingly, it is likely that the mortgage holder will have the property secured and/or winterized within the next few days. There for if this property is not vacant please call the number below imediately.
BUT...they haven't done so! With our names on the deed we are liable for anything that happens there. Isn't in my interest to protect my family by moving in to care for the property since the bank has neglected to do so? there isn't any date on the sticker nor has there been any of the inspection lines filled in or dated. The sticker might had been up there for months already. Wondering what I can do to protect ourselves? Or maybe I don't have any ground to stand on....deed or no deed? Would like to get maybe 6-12 months out of this.

[TBA]

It depends on what your mortgage documents say as to when the SOL starts (see website below). We are in a situation where we will be trying to use the SOL on an SBA second, and that falls under slightly different rules (go figure, uncle sam gets to make his own rules...), but the best explanation i found on calculating dates was on this website... creditinfocenter.com/rebuild/statuteLimitations.shtml

While it is specifically talking about other types of debts, it does suggest you calculate the date as follows:

Calculating When the Statute of Limitations (SOL) is Over

Take the date cause of action begins (date of last payment or demand letter):
Add the number of years of the statute of limitations in your state.

Example:
You last stopped paying on a credit card on Jan 15, 2001. The company sent you a demand letter for the full amount on July 15, 2001. The statute of limitations for credit cards (usually regarded as open accounts) in your state is 6 years.

The date at which you are "safe" from having a creditor sue you over this debt is:

No Acceleration clause: Jan 15, 2001 + 6 years = January 15, 2007
Acceleration clause: July 15, 2001 + 6 years = July 15, 2007.

Again, consult your attorney about this to see if you can use the FL statutes. But at least be armed with this info when you talk to him/her.