Can a bank proceed with a foreclosure if they can not produce a note with the correct amounts for the mortgage and payments?

UPDATED: Feb 21, 2012

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Can a bank proceed with a foreclosure if they can not produce a note with the correct amounts for the mortgage and payments?

Asked on February 21, 2012 under Real Estate Law, Florida


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Different states in this country have different requirements for a lending institution to foreclose upon a property with respect to having to produce the original "wet inked" note and trust deed/mortgage or not. Some states require the original documents some allow certified copies of the recorded mortgage or trust deed.

The amount owed by the borrower needs to be correctly states in any notice of default. I suggest that you consult further with a real estate attorney about your situation and the requirements of your state as to the "wet inked" original mortgage or trust deed or not.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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