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Sheryl Ann Edwards
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Sheryl Edwards’s Answers

224 total


  • As a 3rd party winning bidder, am I responsible to pay the HOA charges acquired by previous owner as: interest, violations, etc

    I bought a house on a judicial sale in Orlando, FL. with a lien registered in 2010 of $2,280 for unpaid HOA assessments from 2007 to 2010, including legal charges. I called the current Management Co to settle the unpaid amount and got a Statemen...

    Sheryl’s Answer

    Section 718.116 provides for a 1 year limitation on past due association dues in a foreclosure or deed in lieu of foreclosure only to the first mortgagee or its successors (meaning someone who bought the property from the first mortgagee). Since you bought the property at the foreclosure sale, you are responsible for the entire amount of past due fees. This is a nuance in the law that many, like yourself, find out the hard way.

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  • I was just served a summons for foreclosure action and I need to file an answer within 30 days. Do I need a lawyer yet

    I need to delay this as long as possible. My husband is in a nursing home and I lost his income. Refinancing and modifying have already been done a few years ago when he became disabled. I don't want to hire an attorney yet if I can answer the ...

    Sheryl’s Answer

    Every time I go to court on a foreclosure matter, I see borrowers who try to represent themselves and make mistakes and omissions that, if done properly, would have made the difference between the entry of a final judgment of foreclosure and a dismissal of the action. Many foreclosure actions have numerous defenses - you should immediately seek legal counsel from an attorney experienced in mortgage foreclosure defense to review your case and see what defenses exist in your case.

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  • Do banks have to follow the new FL one year limit for deficiency judgments in foreclosure cases prior to the June 2013 law?

    There was a final summary judgment entered for my FL home in March 2010. The bank finally bought back the home in the Foreclosure sale in 2013. In June 2013, the governor changed the law to banks only have one year to file for a deficiency judgmen...

    Sheryl’s Answer

    As a result of the enactment of the Florida Fair Foreclosure Act, Section 95.11, Florida Statutes has been amended to shorten the statute of limitations on deficiency judgments. Previously, a lender had 5 years after the foreclosure sale to file an action to obtain a deficiency judgment. Now, a lender must file an action for deficiency within 1 year of the foreclosure sale. The amendment to this statutory provision became effective on July 1, 2013 and applies to all actions for deficiency judgments filed after July 1, 2013. This new shorter limitations period applies to an action for a deficiency judgment filed after July 1, 2013 where the foreclosure action was filed before July 1, 2013.

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  • Do I need to hire an attorney to do an "uncontested" foreclosure to prevent a deficiency judgement on underwater rental.

    Foreclosure already filed by bank. Default filed by judge.

    Sheryl’s Answer

    I agree with Ms. Golant - if you want to avoid a deficiency judgment, you need to contest your foreclosure and potentially sell the property at short sale, which, in many instances, is your best chance in avoiding the obligation for the deficiency.

    You need to see an attorney experienced in foreclosure defense immediately. He or she can seek to set aside the default and defend the foreclosure with the objective of avoiding the deficiency. Good luck!

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  • Is my mortgage note validly endorsed?

    I've been told by a lay person that a note made payable "to the order of ________________," is unenforceable. Can this be true?

    Sheryl’s Answer

    Attorney Golant is correct - you have described a blank endorsement. Many, if not most promissory notes are transferred by blank endorsement. The biggest issue with blank endorsements is the lack of a date to show the date it was affixed to the note which is a very important issue that Plaintiffs have trouble in proving.

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  • Can I file a Motion to Cancel and Reschedule a Foreclosure Sale?

    I agreed with the lenders counsel to a Consent Judgment with the understanding that during the next 90 days the servicer would still work with me on my modification. Sign the judgment was signed the servicer will not speak with me. I am approved f...

    Sheryl’s Answer

    You should have a Motion to Cancel the Foreclosure Sale filed immediately. It is improper under the terms of the Attorney General Settlement for a mortgage servicer to proceed with a mortgage foreclosure while an application for mortgage modification is pending. You should consult with an experienced real estate attorney in your area to assist you in this regard.

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  • Where do I stand after I bought a lien on a property from the association then a first holder forecloses?

    The association foreclosed for failure to pay fees. I could not find a first lien holder/mtg but tried to contact the previous mtg holder without success. I purchased the title and repaired the home and made it my primary residence. The first l...

    Sheryl’s Answer

    Unfortunately, the first lienholder has priority and can complete its foreclosure and take ownership of the property at the foreclosure sale. The first mortgagee does not need to pay you or any of the other holders of subordinate interests a dime. However, at the foreclosure sale, the property will be sold to the highest bidder. Although that is most often the plaintiff/lender, you should consider bidding to purchase the property at foreclosure sale.

    However, as you have experienced, purchasing property at a foreclosure sale is very tricky. You should consult with an experienced foreclosure attorney before purchasing any property at foreclosure sale.

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  • Upside Down Rental Property Options

    I have a rental property in FL that I'm aprox 70K upside down on and I'm considering just walking away as I'm also coming out of pocket about 600 a month to maintain it. The issue is I have never missed a payment and my bank wont even talk to me a...

    Sheryl’s Answer

    Many property owners such as yourself have disposed of underwater real estate through a short sale. Doing nothing and simply walking away is almost never the best option. You should consult with an attorney experienced in assisting homeowners in negotiating a short sale to get legal advice tailored to your specific situation.

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  • What will be the bank's recourse against the homeowner after foreclosure dismissed?

    In a recent case in Miami Dade Co., US Bank vs Peninsula Condominium Assoc., the court found for the condo assoc. finding that the bank failed to foreclose the property within the five year period after the notice of acceleration to the homeowner,...

    Sheryl’s Answer

    In Florida, an action to collect on a promissory note and an action to foreclosure a mortgage must be filed within 5 years after the mortgage debt was accelerated by the lender. In the case you reference, the court found that the foreclosure action was filed after the expiration of this 5 year period. Thus, the note and mortgage are no longer enforceable.

    I am uncertain of the recourse between against servicer by the lender for the servicer's failure to file an action to enforce the note and mortgage before the expiration of the 5 year statute of limitations period. And, I am not really sure I care.

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  • Foreclosure Defense Assistance needed.

    I have been to Legal aid, they do not have resources to assist me. I have been to the Florida Bar, and they do not have a referral service for Pro Bono foreclosure attorneys. Anyone have any other advice.

    Sheryl’s Answer

    There are a number of attorneys throughout the state of Florida who handle foreclosure defense on a contingency basis - meaning that they do not get paid unless they are successful in having the foreclosure action dismissed and having the lender pay their attorney's fees. You should call some attorneys in your area and ask if they handle mortgage foreclosure on a contingency basis.

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