Is it true that only the original owner of a mortgage may bring a foreclosure suit?

Get Legal Help Today

 Secured with SHA-256 Encryption

Is it true that only the original owner of a mortgage may bring a foreclosure suit?

In FL. If someone else brought it could the case be dismissed?

Asked on July 14, 2011 under Real Estate Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

No this is not true. Typically loans secured by mortgages (or trust deeds) at the original close of escrow are sold by the original lender where the original lender gets to service the loan for the new owner and collect a fee.

If a loan is sold, typically there will be a notice of the assignment or transfer recorded on the property that has the loan secured upon it and notice of the assignment or transfer is mailed to the property owner.

The person or entity who is bringing the foreclosure suit in your question would have to prove that he/she/it actually owns the loan secured by the property to end up winning on the foreclosure suit assuming there is a basis for the foreclosure.

If the person bringing the foreclosure suit is shown not to own the loan secured by the property subject to the foreclose, the case could very well be and should be dismsised.


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 AttorneyPages.com 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.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption