Buyer Beware – Foreclosure Auction Landmines

It’s often said, the greater the risk, the greater the reward. But if you’re going for gold, crossing a minefield blindfolded isn’t the best start.

It’s a common story – some industrious person or group of people come together and decide they want to put their talents to work purchase a property needing some work, fix it up, and sell it again for a profit. And its not a bad idea! Many people make good, honest livings doing exactly this kind of work. Part of the nature of such a business is to scope out properties that can be acquired cheaply. And this is where the unaware can find themselves stepping on a legal landmine and thousands of investors have been caught unaware and put into a near-impossible position.

If you go to the foreclosure auction website and look at any given day, you see the basic information – the property address, its assessed value, and the final judgment amount against the property. But it also lists a case number and taking the time to investigate that series of digits can mean the difference between making a sound investment and losing everything.

One of the biggest clues for an investor that they might be walking into a minefield is who the plaintiff is. Are they an HOA or Condo association? Sure, the judgment amount might be only ten or twenty thousand dollars, and you might encounter few other bidders, but there’s probably a reason why you’re able to obtain a property for a fraction of its value. This is a public auction. Its not a secret that the property is for sale and there are many other businesses that share the business model of buying cheap, fixing, and flipping. And the reason you might win such a property on a low bid may have nothing to do with the condition of the property itself. You might be buying it subject to the mortgage. Meaning even though you aren’t responsible for paying the mortgage, the property could go back up for auction and sold right out from under you to pay off that mortgage. And here’s where the story can go really bad.

If the amount owed on the mortgage the investor didn’t know about is substantially higher than the property is worth, the entire investment might be lost when the property is put back into a foreclosure sale, including any value added to the property by improvements done by the investor.

Even worse, if the property was also already involved in a second foreclosure case at the time the investor purchased it, even if it sells for more than enough to cover the judgment, the surplus goes back to the title holder at the time the case was initiated. This means, the amount an investor bid on the property, and everything the investor paid for improvements to the property, every last dollar could be lost.

These are just a few reasons why it is very important to research properties involved in foreclosure auctions before bidding. But mistakes happen. And that’s when you want the best legal representation you can get to help navigate the next steps.

Loan Lawyers has helped over 7,000 South Florida homeowners and consumers with their debt problems, we have saved over 3,000 homes from foreclosure, eliminated more than $100 million dollars in mortgage principal and consumer debt, and have recovered over $25 million dollars on behalf of our clients due to bank, loan servicer, and debt collector violations.  Contact us for a free consultation to see how we may be able to help you.

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A Single Mom Makes the Decision to File Bankruptcy

Our client, a single mother of one, contacted us as she was about twenty thousand dollars ($20,000.00) in credit card debts. While this may not seem like a lot at first glance, given her salary and financial situation, this $20,000.00 seemed almost insurmountable. To further complicate things, one of the creditors had filed a lawsuit against her for close to half of her overall credit card debt load. Our client could not come up with a repayment plan that would be acceptable to the creditor, while still allowing her to meet the ongoing necessary expenses for her and her child. By way of example only, our client had less than $30 left over each month after paying her bills.

While the outstanding credit card debts may seem small to some, these debts made a huge impact on our client’s financial landscape. With these debts as a concern, she was forced to make some very hard decisions about the basic necessities for her small family. Furthermore, it affected her extended family, who at times had to assist in making ends meet.

After reviewing the situation and discussing same with the client, we jointly agreed on pursuing a discharge in a Chapter 7 bankruptcy case. This would enable our client to have a fresh start from all the burdensome credit card debts. Furthermore, the Chapter 7 bankruptcy’s automatic stay protection would be useful to prevent the creditor from moving forward with the lawsuit.

We got to work with the client to properly document her assets and liabilities. While there were not a lot, our client discovered that there was a retirement account about which she had forgotten. We wanted to save this account for our client and as such, carefully reviewed all the documents related to the same. Once comfortable that the account was protected, we worked with the client to get the Chapter 7 bankruptcy filed. Once it was filed, we noticed the creditor that had filed the lawsuit that our client was protected by the automatic stay and all collection activities outside of the bankruptcy must cease. Next, we attended the Meeting of Creditors and ultimately, the Trustee determined that there were no assets to be distributed to creditors. The debtor is set to receive her discharge any day.

This fresh start will be a revitalizing change for our client and her family. They will be able to start their financial lives over again. It will also mean that her extended family may be able to contribute less towards her necessities. We can also not disregard the peace of mind that she may have in being able to answer her phone without fear that the call is from bill collectors.

For more information about bankruptcy, please visit our website at: https://www.fight13.com/bankruptcy-attorney

Contact a Knowledgeable Bankruptcy Attorney in Fort Lauderdale, FL Today

Loan Lawyers has helped over 7,000 South Florida homeowners and consumers with their debt problems, we have saved over 3,000 homes from foreclosure, eliminated $100 million in mortgage principal and consumer debt, and have recovered over $25 million dollars on behalf of our clients due to bank, loan servicer, and debt collector violations, negligence and fraud. Contact us for a free consultation to see how we may be able to help you.

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What to Do if DNF Associates, LLC Has Filed a Lawsuit Against You

DNF Associates, LLC, is a debt collection company and they file multiple lawsuits against Floridians every year. Like other debt collectors, DNF Associates, LLC purchases debts from medical centers, creditors, utility companies, and more for just pennies on the dollar. Once they have bought the debt, they then pursue it and try to collect it from the borrower. After they have recovered the debt, they can then keep the proceeds for themselves.

One way in which DNF Associates, LLC and other debt collectors recover the debt borrowers owe them is to file a lawsuit against the consumer. If they are successful with their lawsuit, they can then garnish the wages of the borrower, levy their bank account, and take other legal action to collect the debt. If you have been sued by DNF Associates, do not panic. Our debt defense lawyer in Fort Lauderdale can prepare a defense that will give you the best chance of a successful outcome.

Who is DNF Associates, LLC?

DNF Associates, LLC is a third party debt collector based in New York. The company typically uses Stenger & Stenger to file lawsuits against borrowers. Still, just because they are located in New York does not mean their lawsuits are limited to that state. The collection company also files lawsuits against borrowers in Florida, and throughout the rest of the country.

The main attorneys in lawsuits filed by Stenger & Stenger are Joe Jammal, Preston Nate, and Joshua Stiers. The attorneys are quite reasonable and easy to work with. However, it is still important to work with a Fort Lauderdale debt defense lawyer who has the necessary experience working with these attorneys.

Defenses in DNF Associates, LLC Lawsuits

You may think that if DNF Associates, LLC has filed a lawsuit against you, there is no chance you will win. Fortunately, that is not the case.

A debt defense lawyer will know the arguments that work in these cases, and they include:

• Lack of standing: Before DNF Associates, LLC can file a lawsuit against you, they must have legal standing. This means they have a right to sue you because they have something to lose. In other words, they must own the debt you owe. Many debt collection companies do not have the paperwork to prove that they have standing. If you do not raise this defense, the courts may overlook the fact that the debt collector cannot produce the paperwork. If you do argue that the debt collector cannot prove that they own the debt, it may be enough to have the case against you dropped.
• You do not owe the debt: If you have paid the debt already or the debt collector is arguing that you owe more than you do, that can also serve as a defense.
• Fraudulent debt: It is not something many people want to think about, but sometimes a person’s credit card or even their identity is stolen. This can result in someone else racking up debt in their name, and the victim is later found not to be responsible for the debt.
• Incorrect service process: After DNF Associates, LLC files a lawsuit against you, they must serve you with the paperwork. Florida law outlines very specific procedures when serving someone with a lawsuit. If the company did not follow proper procedure, that can serve as a defense. Unfortunately, this will likely only stall the lawsuit and not keep DNF Associates from filing another lawsuit against you in the future and following the proper procedure when they do.
• Expired time limit: Most lawsuits in Florida are governed by a statute of limitations. This is the amount of time the plaintiff has to file a lawsuit. If DNF Associates, LLC allows this time limit to expire, they cannot take legal action against you. It does not mean that they cannot contact you to try and collect on the debt. It only means they cannot file a lawsuit against you to obtain a judgment that will allow them to garnish your wages or take other legal action.
• Bankruptcy: Although this is a last resort for most people, bankruptcy can provide a defense in debt collection lawsuits. As soon as you file bankruptcy, an automatic stay is issued. An automatic stay will prevent debt collectors and creditors from contacting you and trying to collect on the debt. If your bankruptcy case is successful, it may also discharge the debt the debt collector is trying to recover from you.

What to Do if DNF Associates, LLC Has Sued You

DNF Associates, LLC files lawsuits against thousands of people in the country in the hopes that they will not respond to it. They have good reason for thinking borrowers will not respond, as many do not. If you do not respond to the lawsuit within 20 days, the company will likely ask the court to issue a default judgment against you. They will also likely be successful with their request. A default judgment will automatically allow the company to garnish your wages, levy your bank account, and take other harmful legal action against you.

Before responding to the lawsuit, you should also contact a Fort Lauderdale debt defense lawyer. An attorney can prepare the defense that will give you the best chance of winning and prevent any further legal action against you. Additionally, a lawyer can also advise on whether the debt collector violated the law.  There are many laws that protect borrowers in the country, involving the Fair Debt Collection Practices Act, the Telephone Consumer Protection Act, and the Florida Fair Debt Collection Practices Act. If the debt collector has violated any of these laws, you may be able to file a countersuit against the company to collect damages.

Our Debt Defense Lawyer in Fort Lauderdale Can Advise on Your Case

If DNF Associates, LLC has filed a lawsuit against you, our Fort Lauderdale debt defense lawyer can help. At Loan Lawyers, we know the strongest defenses to use in these cases that will give you the best chance of a positive outcome. Call us today at (954) 523-4357 or contact us online to schedule a free review of your case.

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Has Rolfe & Lobello, P.A. Filed a Judgment Against You?

Rolfe & Lobello, P.A. is a law firm located in Jacksonville, Florida, but they file lawsuits all across the country. The firm represents medical centers, dental offices, small and large businesses, government agencies, schools, utility companies, fitness clubs, and senior care facilities.

Unlike many other law firms that represent debt collectors, the website of Rolfe & Lobello, P.A. does not attempt to appear as though they are there to help consumers and borrowers. Instead, they are quite clear that their main incentive is to help businesses maximize their revenue. In fact, their own website identifies the firm as a debt collector.

If Rolfe & Lobello, P.A. have filed a lawsuit against you, it is likely because they believe you owe a debt to a business. It does not necessarily mean though, that they will win their case against you. There are many defenses available in these lawsuits and our debt defense lawyers in Broward County can prepare a case that will give you the best chance of success.

Why Responding to the Lawsuit is So Important

Like so many other law firms that represent debt collectors, Rolfe & Lobello, P.A. is hoping that you will not respond to the lawsuit. The majority of borrowers simply ignore notification that a lawsuit has been filed against them, hoping it will go away. Unfortunately, that is not how it works. If you do not respond to the lawsuit,  Rolfe & Lobello, P.A. will appear in court. When you are not there to defend yourself, they will ask the judge for a default judgment against you, and they will likely get it.

In Florida, you have only 20 days to respond to the lawsuit. Before filing your answer, you should try to obtain as much information about the debt as possible. Determine if you owe the debt and if so, how much the debt is actually worth. You can also try to determine if the debt collector Rolfe & Lobello, P.A. is representing actually owns the debt. A Broward County debt defense lawyer is very helpful during this phase.

Again, many people sadly do not respond to the lawsuit and so, Rolfe & Lobello, P.A. is able to obtain a default judgment against them. If this has happened to you, it is important to know the consequences you may face, and how to avoid them.

The Consequences of a Default Judgment

Rolfe & Lobello, P.A. will have many additional legal tools at their disposal if they are able to obtain a default judgment against you. These include:

• Wage garnishments: One of the most common ways debt collectors and the law firms that represent them recover unpaid debt is through a wage garnishment. Through a wage garnishment, the debt collector is automatically paid a certain amount from your paycheck. Your employer will receive notification that they are to forward a portion of your paycheck directly to them. Florida follows the federal law limits on wage garnishments. This means they can only take 25 percent of your disposable income or the amount of your income that exceeds 30 times the federal minimum wage, which amount is lower.
• Levy your bank account: A bank levy is similar to a wage garnishment. The only difference is that instead of taking money directly from your paycheck, the law firm or debt collector can take money directly from your bank account. Still, state law does place some exemptions on bank levies. For example, if your bank account holds retirement savings only, debt collectors and law firms cannot seize these funds.
• Real property liens: A judgment may also allow a debt collector or law firm such as Rolfe & Lobello, P.A. to place a lien on your real property. If you try to sell the property once the lien has been placed, you will likely be required to use the proceeds to repay the debt before you can keep the remainder. Florida does allow for a homestead exemption and under the law, creditors and debt collectors cannot foreclose on the home over an unpaid debt.

What if You are Judgment Proof?

There are some borrowers that are considered to be ‘judgment proof.’ This means that everything you own is exempt and so, even if a debt collector has obtained a judgment against you, they cannot garnish your wages, levy your bank account, or place a lien on your property. Typically, people are considered judgment proof when their only form of income are social security benefits, and they do not have personal property that is not considered exempt.

It is important to note that even if you are judgment proof, it does not mean the debt collector cannot continue to try to collect on the debt. This in itself can be very frustrating. If the debt collector violates the law, such as the Fair Debt Collection Practices Act, you should speak to a Broward County debt defense lawyer that can help you claim damages for the violation.

Filing Bankruptcy to Avoid a Judgment

If you do owe the debt and the debt collector does own it, you may consider filing for bankruptcy. As soon as you file, an automatic stay is issued. Automatic stays prevent debt collectors from trying to collect on the debt, so it will stop the calls and letters you receive.

Many people who cannot repay their debt know that bankruptcy is inevitable. When this is the case, it is best to file for bankruptcy before a judgment is issued. A judgment will still be considered unenforceable if you file after one is issued. However, filing prior to a judgment being issued will keep it off of your record, so your credit score will not take a hit from it. The bankruptcy, though, will still impact your credit score.

Our Debt Defense Lawyers in Broward County Can Help with Your Judgment

If you have had a default judgment issued against you, or you fear one soon will be, our Broward County debt defense lawyers can help. At Loan Lawyers, we have helped thousands of borrowers avoid judgments, and can help you file for bankruptcy if one has already been issued. Call us today at (954) 523-4357 or contact us online to schedule a free consultation.

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Foreclosure Defense Law – Why It Is Important to Defend Your Home

No one in Fort Lauderdale, or in the entire country, ever wants to face foreclosure. If the bank starts the foreclosure process on your home and they are successful, you will eventually be evicted from the home. This will not only disrupt your life, but it will also have a dramatic impact on your future, and the future of your family. Foreclosure lawsuits are overwhelming, and you may be tempted to simply ignore the lawsuit. Florida is a judicial foreclosure state, meaning the lender must first sue you and then argue their case in court before they have the right to foreclose on your home.

As with any lawsuit, it is critical that you do not ignore it if the lender has sued you. If you do, you will likely automatically lose your case and subsequently, lose your home. Too many people think that if they simply ignore the lawsuit, it will go away, but that is never the case. Ignoring a foreclosure lawsuit will only leave you with fewer options and potentially leave you without a defense that could result in you losing your home.

The Lender May Obtain a Default Judgment

Before a lender can file a lawsuit against you to foreclose on your home, they must first send you a notice of default. You will likely receive this notice once you are 30, 60, or 90 days past the due date of the mortgage payment. Once the lender has sent the notice of default, they can then proceed with the lawsuit in the foreclosure process.

If your lender does not send you the appropriate notice of default, you can use that as a defense in your foreclosure lawsuit. Note though, that this will likely only stall the process and will probably not stop it altogether. The lender will only have to rectify the situation by sending the appropriate notice of default, which will allow them to then continue on with the lawsuit process.

After receiving the notice of default and the paperwork associated with the lawsuit, it is essential that you do not ignore it. You will be served with two important documents. The first is the complaint, which will outline the lender’s arguments against you. The second is the summons, which tells you the day of your court hearing and allows you to respond to the lawsuit. You have 20 days from the date you are served with papers to respond to the lawsuit.

A failure to respond to the lawsuit will likely result in a default judgment against you. This essentially eliminates the possibility of raising defenses that can help you save your home and will allow the lender to automatically win their case. This is perhaps the biggest reason why it is important to defend your home.

You Will Give Up Your Right to a Loan Modification if You Choose Not to Defend

It is important to remember that just because your lender has filed a foreclosure lawsuit against you, it does not mean you will automatically lose your home. Until the process is over and a judge has made a decision, you still own your home. Throughout the process, you still have many options and one of them is speaking with your lender about a possible loan modification.

Through a loan modification, you can change certain terms of the mortgage and make it more affordable for you to pay. A loan modification can change the interest rate, the length of the loan, and even the principal loan amount, among other terms. However, a loan modification is only possible if you respond to the lawsuit and are prepared to defend against it. If you do not, a judge will likely automatically side with the lender and fast track the foreclosure process.

You Will Give Up Your Right to Discovery

Any civil lawsuit will involve a discovery phase. During this stage, both sides can ask the other party for certain information. Part of this information includes the evidence the lender plans on using against you.

Many people underestimate the importance of the discovery phase. It is a crucial step in reviewing the lender’s case so your Fort Lauderdale foreclosure defense lawyer can prepare a defense and refute the arguments of the lender. Typically, a lawyer will ask for information showing that you have fallen behind on your mortgage payments, that they own the mortgage, and that they have followed proper foreclosure procedure.

If you do not try to defend against the foreclosure, you lose the opportunity to see what evidence the lender has against you. Again, a judge will most likely issue a default judgment in favor of the lender and eventually, you will lose your home.

You May Have to Repay the Mortgage Anyway

Along with trying to secure a foreclosure on the home during the legal process, your lender may also try to obtain a deficiency judgment against you. If they are successful, it means they have the legal right to pursue the amount you still owe after they have obtained the right to foreclose on the home. Too many homeowners think one of the benefits of allowing the lender to foreclose is the fact that they will no longer owe the money on the mortgage. Sadly, that is not always true.

A Fort Lauderdale foreclosure defense lawyer can defend against the foreclosure lawsuit. However, even if they are unsuccessful and you end up losing your home, a lawyer will also defend against a deficiency judgment. Also, if they are able to negotiate an agreement with your lender, such as a deed in lieu of foreclosure, a lawyer will also include a clause within the agreement indicating that the lender has waived their right to pursue a deficiency judgment. Again, these options are only possible if you defend the lawsuit from the very beginning.

Our Foreclosure Defense Lawyer in Fort Lauderdale Can Help You Keep Your Home

If you are in fear of losing your home, our Fort Lauderdale foreclosure defense lawyer can help. At Loan Lawyers, we know the defenses available that may allow you to keep your home and will use the law to protect you from many of the potential negative consequences. Call us today at (954) 523-4357 or contact us online to schedule a free consultation and to learn more about your legal options.

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Why Have I Been Sued By Rausch Sturm Israel Enerson & Hornik, LLP?

It is always alarming to receive a notification that you have been sued by anyone. If you have been notified that you are being sued by Rausch, Sturm, Israel, Enerson & Hornik, LLP, (RSIEH), the most important thing to do is to remember not to panic. The company may be trying to collect on a debt you do not owe, or they may not be able to prove the validity of the debt. It is important to know who RSIEH is, and how to defend yourself against the lawsuit.  Below, our Broward County debt defense lawyer explains the defenses available and how to protect yourself.

Who is RSIEH?

Rausch, Sturm, Israel, Enerson & Hornik, LLP is a law firm that is based out of Wisconsin. They specialize in collecting on debts for creditors and other lenders all over the country. RIEH is not a scam company. They are completely legitimate and have been successful in many debt collection lawsuits in the past. This does not automatically mean they will win their case against you.

RSIEH states on their website that they are dedicated to helping consumers get out of debt. Unfortunately, that statement is not as innocent or as helpful as it may seem. The law firm wants to help people get out of debt by suing them and attempting to garnish their wages or take other legal action that is very hurtful to borrowers.

RSIEH was founded in 1997 and was incorporated in 2008. They created a profile page with the Better Business Bureau (BBB) in 2004, according to the organization. In total, the BBB has received 41 complaints against Rausch, Sturm, Israel, Enerson & Hornik, LLP. In the past year, three of those complaints have been closed against the law firm. Many of these complaints involve unfair collection practices, such as calling borrowers multiple times a day or at inappropriate times of the day.

What Are Your Rights if You Have Been Sued by RSIEH?

Many people do not understand that when they are sued by RSIEH, or any debt collector for that matter, that they have rights. The Fair Debt Collection Practices Act (FDCPA) governs debt collection companies, as well as the law firms that represent them in lawsuits. The FDCPA protects borrowers from many unfair collection practices and provides them many rights. Under this Act, debt collection companies are not allowed to:

• Phone you at work if you are not allowed to receive calls
• Phone you at inconvenient times, such as very early in the morning or very late at night
• Speak to anyone else about your debt other than your spouse or a lawyer you have hired to represent you
• Use harassing tactics, such as threatening you physically, using obscene language, or calling simply to annoy you
• Lie to you about the debt, such as stating you owe more than you do on a debt
• Threaten you with an arrest if you do not agree to pay the debt
• Collect fees or interest in addition to the debt you owe, with the only exception being if these costs are outlined in the original contract
• Threaten to take, or actually take, your property unless they have a warrant that allows them to do so

The above are just a few rights guaranteed by the FDCPA. Any time a debt collector such as RSIEH violates the law, you can file a lawsuit against them in either federal or state court. Within your lawsuit, you can pursue any actual damages you sustained. For example, if your boss fired you because RSIEH continued to call you at work, you can sue the company for your lost wages. You can also recover your attorney’s fees. You can also be awarded up to $1,000 in statutory damages.

The Importance of Responding to a Lawsuit Filed by RSIEH

When Rausch, Sturm, Israel, Enerson & Hornik, LLP files a lawsuit against you, they are generally hoping that you will ignore it. They have good reasons for such hope. Many people ignore these lawsuits, hoping they will simply go away. Unfortunately, that is not the case.  When RSIEH, or any other debt collector, files a lawsuit against you and you do not respond, they can obtain a default judgment against you.

A representative from the law firm will appear in court and when you fail to do so, they will ask the judge for a default judgment. Without you being there to defend your case,  the judge will likely grant that default judgment. Once they do, the debt collector then has the right to take legal action against you, whether that is garnishing your wages, freezing your bank account, or even placing a lien against your property.

When is a Debt Time-Barred?

There are many defenses to lawsuits alleging you owe a debt and the statute of limitations is one of the best. In Florida, the statute of limitations, or time limit, on debts is five years. This means after that time, debt collectors no longer have the legal right to sue you over a debt. This does not mean they cannot still try to recover the debt, although they are still bound by the FDCPA. It only means they cannot garnish your wages or otherwise take legal action against you.

The statute of limitations begins on the day you take out the debt, or the date of your last payment. After being served with a lawsuit by RSIEH, do not make any payments. The firm is also hoping that you will think paying a little bit will stop the lawsuit from going any further. This is not the case. Making a payment will only restart the clock on the statute of limitations, which will give RSIEH the right to continue on with the lawsuit.

Call Our Debt Defense Lawyers in Broward County for Help with Your Lawsuit

If Rausch, Sturm, Israel, Enerson & Hornik, LLP has filed a lawsuit against you, our Broward County debt defense lawyers can help. At Loan Lawyers, we have defended thousands of borrowers against collection lawsuits and we will put that experience and knowledge to work for you. Call us today at (954) 523-4357 or contact us online to schedule a free case review.

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Pitfalls to Avoid if You Have a Reverse Mortgage: Passing of Sole Borrower

Reverse mortgages are offered by Federal Housing Administration (FHA) approved lenders to people that are 62 years old or older who have equity in their homes. The homeowner and the property have to meet all the requirements outlined by the lender to get approved for the reverse mortgage. Reverse mortgages allow homeowners to use some of the equity in the home to augment their income. For many seniors with equity in their homes who need the supplementary income, reverse mortgages are a great way to support themselves as they approach or enter retirement.

What is the catch? Although there certainly are benefits for those that qualify for reverse mortgages, there are also several pitfalls that homeowners need to be aware of before they become reverse mortgage borrowers. There are quite a few ways that these reverse mortgage borrowers can end up involved as Defendants in a foreclosure lawsuit by defaulting on these reverse mortgages. Becoming a defendant in a foreclosure lawsuit puts these seniors at risk for losing the homes they worked hard for their entire lives.

What are some ways that these homeowners expose themselves to the risk of a foreclosure lawsuit? One you can default on the reverse mortgage loan is if a borrower dies and the property is not the principal residence of at least one surviving borrower. The borrower is defined as the person that signs at the end of the Note. If the sole Note signor passes away and is survived by their spouse who signed the Mortgage but not the Note, the banks can use the passing as grounds for accelerating the loan and foreclosing on the home. The surviving spouse who signed the Mortgage is not considered as a co-borrower under current Florida law. In some cases, there are discrepancies between the individuals listed as the borrower on the Note and on the Mortgage. In those case, Florida courts have ruled, “Our foreclosure precedent is clear that the mortgage must be read together with the note it secures and that, if the terms of the two documents conflict, the note prevails. See, e.g. , Graham , 43 So. at 513-14 ; Krickl , 158 So. at 119.” WVMF Funding v. Palmero, 320 So. 3d 689, 694 (Fla. 2021).

Talk to Our Experienced Foreclosure Defense Attorneys in Fort Lauderdale, FL Today

If you or someone you know is contemplating the pro and cons of a reverse mortgage or already has a reverse mortgage, keep this in mind. If you find yourself in a situation where you are looking for a way to avoid foreclosure or a way out of foreclosure, contact us for a free consultation to see how we may be able to help you. Loan Lawyers has helped over 7,000 South Florida homeowners and consumers with their debt problems, we have saved over 3,000 homes from foreclosure, eliminated more than $100 million dollars in mortgage principal and consumer debt, and have recovered over $25 million dollars on behalf of our clients due to bank, loan servicer, and debt collector violations.  Give us a call today.

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