Skip to main content
Sheryl Ann Edwards
Avvo
Pro

Sheryl Edwards’s Answers

219 total


  • How long will it take the Florida Supreme Court to answer the certified question posed in the Bartram case?

    In light of the recent twisting of the Statute of Limitations by the 5th District Court of Appeals in favor of the banks I am surprised at the relatively low roar coming from the 'foreclosure activists' and attorneys who blog about the injustice o...

    Sheryl’s Answer

    Trust me - the Bartram and Evergrene decisions are no small matter to the foreclosure defense bar. Since an acceleration of mortgage is an acceleration of the maturity date, it is widely believed that a mortgage cannot be un-accelerated simply because the lender dismissed it's case or lost at trial.

    Regardless, there is no guarantee that the Florida Supreme Court will hear the case and if it does, it will likely be at least a year before a decision is published.

    See question 
  • Foreclosure question U.S. Bank vs. Bartram implications

    In 2007 my condo went into foreclosure. I bought it in 2005 and tried to sell it in 2006 for a small profit, however found that the title was never recorded properly in my name. The title company was unresponsive and out of business now, however...

    Sheryl’s Answer

    Those of us who represent borrowers in foreclosure actions believe that the court in Bartram did not understand the nature of an acceleration of a mortgage. Although we are hopeful that the Florida Supreme Court will agree to revisit this issue in the near future, the holding of Bartram (as well as other cases decided since Bartram) currently permits a lender to file a second and third and fourth action for foreclosure (or as many tries it takes then to finally get it right) without regard for the 5 year statute of limitations. If the bank files another action for foreclosure, you will want to hire experienced foreclosure defense counsel to assist you in asserting your defenses to the action.

    See question 
  • When must notice of pursuit of a deficiency claim be received?

    If an entity wants to pursue a deficiency claim in the case of a short sale, does the notice need to be received before the statute of limitations date, or only postmarked before the date?

    Sheryl’s Answer

    In 2014, the Florida Legislature enacted legislation to lessen the period of time that a lender could pursue a deficiency judgment after foreclosure to a period of 1 year after the foreclosure sale. Previously, a lender had a full 5 year period to pursue a deficiency after the completion of the foreclosure.

    At the time that the Florida Legislature was working on the legislation that shortened the statute of limitations period to pursue a deficiency, it was working on a separate bill that would have shortened the period of time to pursue a deficiency after a short sale to 1 year. Unfortunately, the provision shortening the period for a lender to pursue a deficiency did not pass.

    As a result, there is currently no statutory provision dealing with the limitations period for a lender to pursue a deficiency after a short sale. Therefore, it is widely believed that the general 5 year statute of limitations period for a breach of contract applies to short sales. However, when that 5 year period will begin will vary from case to case.

    Any action for a deficiency must be filed with the clerk of court before the applicable limitations period has elapsed.

    See question 
  • When dealing with an In Deed of Lieu process, can the government hold us responsible if the house sells short of the amount due?

    They say we must sign a 1099-C for them to proceed with their offer, but cannot answer this question. They say that the mortgage company will grant a full waiver, but we need to know if the government will come after us down the road.

    Sheryl’s Answer

    When a lender issues you a 1099-C, you do not receive a bill from the government for the tax due, if any, on the debt you have been excused from repaying. You have an obligation to report all taxable income to the IRS by filing a tax return. The information provided on the 1099-C is part of the information that must be provided to the IRS. There may be an exemption that would apply to make the amount of debt you have been excused from repaying not taxable as income. You should consult with your accountant to see if any of those exemptions apply to you.

    See question 
  • I had a deficiency balance after foreclosure and I dont want to filed bankrupcty is that he only option?

    i have more assests and i am going to lost everything

    Sheryl’s Answer

    Bankruptcy is definitely not your only option. Unsecured debt is difficult to collect in the state of Florida. You need to consult with an attorney in your area who can advise you on ways to protect your remaining assets.

    See question 
  • Does both Husband and Wife need to be on the TITLE/DEED? Mortgage to only be in husband's name.

    Wife is concerned about liabilities about being on the Deed/Tilte. We're trying to make the offer however her signature/intials are holding everything up. I am trying to purchase the home for my son and my wife is concerned this can be a problem...

    Sheryl’s Answer

    You may own property separately from your wife and she may own property separately from you. If you are purchasing a property for your son, your wife does not need to be a co-owner of the property. However, if you are financing the purchase, your lender may require your wife to sign the note and mortgage and to be a co-owner of the property if her credit, income or other financial resources are necessary to qualify for the loan.

    Good luck with your purchase!

    See question 
  • Is ex husband's signature required at the closing of the sale of the marital home?

    I am divorced. I got a QC deed on home at time of divorce. I I reside in the home. I am solely responsible for all expenses including the mortgage that both our names are on. I have put it on the market to sell. In the divorce decree he is not en...

    Sheryl’s Answer

    If your divorce is final and the quit claim deed was properly executed, contained no errors and was properly recorded, your husband will not need to sign any documents for you to sell your former marital home. Good luck!

    See question 
  • How do I change the original deed restrictions for lots originally sold by my corporation in Walton County, FL ?

    The county has new building restrictions which radically limit building on dune lake lots. Our original one story restriction now makes building a decent home almost impossible. The object of the restrictions was to keep up the quality of the subd...

    Sheryl’s Answer

    You will need to record an amendment to the deed restrictions (often called a Declaration of Covenants and Conditions). The amendment will need to be signed by a number of the owners of the lots - how many is typically stated in the deed restrictions themselves. If the lots or units have a mortgage, the mortgage holder will also need to sign the amendment to be bound by the amendment. This is a pretty tricky process that has very technical requirements. You should retain a real estate attorney to handle the amendment for you. Good luck!

    See question 
  • What happens after been 5 years in foreclosure?

    since 2009 (November) fighting ,motions etc

    Sheryl’s Answer

    While the case is still pending, there is no magic about a case pending for 5 years. However, if the case is dismissed after it has been pending for 5 years, the debt may become in enforceable because of the 5 year statute of limitations governing breach of contract actions.

    See question 
  • In a foreclosure case how can a new mortgage servicer be the "holder" of my note if its been filed with the court for years.

    My foreclosure case is around 5 years old. The original plaintiff alleged that they were the "designated holder" of the note and that they were authorized by the owner to pursue the foreclosure. The note was filed with the court a few years ago....

    Sheryl’s Answer

    Servicers aren't holders - servicers are agents for owners and holders. Getting judges to realize this is difficult, but it is an important point in defending a mortgage foreclosure.

    See question