I live in Florida. My home went into foreclosure 2010. It was to be sold at auction but they voluntarily dismissed the case the day of. They can not find the breech letter. Then they tried again and dismissed, vacated final judgement. That is two dismissals. The case says closed and has since 2014. Nothing else has been done. The bank stopped paying the taxes 2014 so I am now. My question is can I win, quiet title so I can sell or should I just rent out as long as possible? Can they take the home? What about the failure to prosecute? I vacated the property when I got the auction notice and now everything has been dropped. I called the bank and they said there is nothing happening with the case. They can not even find the second mortgage papers. Nothing has been filed ever on the second mortgage. Now the supreme court's decision is done and I still don't know where I stand.
The decision is obscure, many important details are left unanswered. However, one thing that IS clear is that quiet title on your facts is not an option. Potentially they can try again. However, when / if they do, the odds are they will not do it correctly, and assuming they don't, if you defend with the assistance of an attorney who really knows this area of law, you may be able to prevail. Federal Regulation X and RESPA can also be used to develop additional ammunition, provided it is used by someone who is knowledgeable concerning the potential value, and how to use it correctly.
With that said, I would NOT recommend calling your loan to the attention of the mortgage company. The second mortgage has nothing to do with the first, and as to the second, they can sue you any time they want to.
Please note that the above is not intended as legal advice, it is for educational purposes only. No attorney-client relationship is created or is intended to be created hereby. You should contact a local attorney to discuss and to obtain legal advice.
Essentially the opinion means they can refile on you based on a new defaulted month; any month. You still own the property and can use it or rent it out, but eventually the bank will come knocking to foreclose again. Quiet title does not sound viable based on your facts and under the new ruling. You need to worry about the taxes though as they will go faster than the bank as it has already been 2 years of unpaid taxes.
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Many lawyers claim its difficult to read, discern, or whatever, but the fact is, the Supreme Court's holding in Bartram is quite clear. The Court reformed a very specific certified question - and answered it.
In a case where a mortgage contains a "reinstatement" provision, then (prior to a final judgment of FC) a mortgagees' purported "acceleration" of the amount due is not that significant, and will not trigger the running of the SOL, and it doesn't make a bit of difference if the acceleration occurs and the FC later is dismissed - "with" or "without" prejudice.
The Court's logic - that since the mortgagor in such an instrument can always "reinstate" the loan by simply paying JUST the past due, late fees, and expenses (i.e., per the reinstatement provision), the "acceleration" is not at all significant; at least until the right to reinstate is foreclosed. It is really just as simple as that.
As for you, sorry, no one on line can properly evaluate your case without reviewing your mortgage, the note, and the pleading file. Consult a good local FC lawyer in the county in which the property is located for that.
Hope this helps.
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What does the Florida Supreme Court's Decision mean? It means that the status quo remains and the bank can and will refile the foreclosure action against you based on each monthly default. I just would like to add that none of the things you mention above (the ban dismissed the case, they cannot find the default letter, not paying taxes, etc) will preclude the bank from filing and maybe winning a foreclosure action against you.
Make sure to hire an experienced foreclosure defense attorney to defend you when the bank refiles the foreclosure.
Good Luck to you.
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