Jimerson Firm

NOVEMBER 16, 2020

When a borrower applies for a loan, most lenders require the borrower to pledge an asset as security for the repayment of the loan, i.e. collateral. In the event the borrower defaults, usually by failing to make loan payments, a secured creditor has a right to take possession of the collateral. 679.609, Fla. 679.602(6), Fla.

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Jimerson Firm

JANUARY 14, 2021

If the borrower fails to make the required payments or post a bond for the balance on the loan, the lender will be entitled to possession of the premises. Alternatively, if the borrower can make the loan payments, but refuses nonetheless, an order to show cause may lead to the borrower making payments during the foreclosure action.

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Foreclosure Lender Judgment Law Firms 90

Jimerson Firm

DECEMBER 15, 2020

& Loan Ass’n, 516 So. Carolina Portland Cement Co. Baumgartner, 128 So. 241, 247 (1930). Nevertheless, trial courts have been afforded broad discretion to appoint a receiver. See Colley v. 2d 344, 345 (Fla. 1st DCA 1987).

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Foreclosure Lender Banks Collateral 98

Jimerson Firm

OCTOBER 22, 2020

Additionally, lenders/servicers can request the court to appoint a receiver. & Loan Ass’n of Panama City, 516 So. Barnett Bank of Alachua Cty., Steinberg, 632 So. 2d 233, 234 (Fla. 1st DCA 1994) (discussing the appointment of receivers); Colley v. 2d 344, 345 (Fla.

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Foreclosure Lender Judgment Collateral 94

Jimerson Firm

FEBRUARY 3, 2021

The lawsuit must be brought in a court of competent jurisdiction based on the value of the mobile home (not the amount alleged that is unpaid on the loan). The complaint is filed in in any county where the property is located, where the contract was signed, where the defendant resides, or where the cause of action accrued.

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Foreclosure Collateral Lender Repossession 96

Jimerson Firm

MAY 12, 2021

However, upon notification of the death of a borrower, lenders must “promptly identify and facilitate communication with the successor in interest of the deceased borrower with respect to the property secured by the deceased borrower’s mortgage loan.” Although not required, the confirmed successor in interest may assume the loan upon consent.

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Collateral Lender Loans Foreclosure 52

Jimerson Firm

MAY 26, 2021

The statute defines a “person affiliated with the foreclosing lender” as: (a) the foreclosing lender or any loan servicer for the loan being foreclosed; (b) any past or present owner or holder of the loan being foreclosed; (c) any maintenance company, holding company, foreclosure services company, or law firm under contract to any entity listed in (..)

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Foreclosure Lender Collateral Judgment 52

Jimerson Firm

MAY 25, 2021

To properly serve a defendant by constructive service, foreclosing lenders must publish the notice of action in a newspaper once a week for two consecutive weeks. Lenders may charge the actual costs of the legal publication to the loan in the foreclosure action. Who Covers the Cost of Publication. Conclusion.

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Foreclosure Lender Judgment Construction 52

Jimerson Firm

MAY 24, 2021

Continued reading: Defaulted Loans: Florida State Laws, Federal Laws and Federal Regulations. If, however, a tax deed is issued, the lender will have an opportunity to redeem the property. Authors: Austin B. Calhoun , Esq. Murrin , JD Candidate. How to Get a Deficiency Judgment After a Foreclosure Sale.

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Collateral Lender Foreclosure Judgment 52