In a trend a Jacksonville Foreclosure Defense Lawyer hopes becomes much more common, a South Florida couple recently received news that they prevailed in their mortgage foreclosure suit because the bank suing them could not prove that they owned their mortgage loan. The couple, who defaulted on their loan in May 2008 and went all the way to a bench trial ending in December 2010, were being sued initially by Chase Home Finance then by U.S. Bank which claimed the mortgage note, the document securing payment and evidencing ownership of the loan, was "inadvertently lost or destroyed."
The affidavit of an official at U.S. Bank stated that the original promissory note had been delivered to Florida Foreclosure Mill Marshall C. Watson via Federal Express, the "placed in a secured and locked vault" but now it appears that the note cannot be located. This is a commonplace occurrence but is seldom brought up in cases because so many homeowners fail to defend their foreclosures. Now that the court has ruled that U.S. Bank doesn't have the ability to foreclose on the home, the couple can live in the home and not make a mortgage payment, although if they sell the home they will have to pay off the mortgage.
This is a victory not only for the homeowners but also hopefully for all Florida homeowners. If you are facing a Florida Foreclosure Lawsuit, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Defense Lawyer today to see what foreclosure defenses may be available to you.
