Legal Question in Real Estate Law in Florida

Lost/destroyed promisory note

I am a relatively new home owner in this state. My new mortgage has been resold a number of times in a few months. I have not made payments as a result. A mortgage company claims to have my mortgage and has begun foreclosure proceedings. However, they say they do not have the original promisory note. They claim to have had it at one point, but somehow it was lost or destroyed. They do not expect to be able to produce it. How do I know they hold my mortgage? What are my rights in this instance?


Asked on 9/25/06, 4:38 pm

3 Answers from Attorneys
Stephen Berlinsky The Berlinsky Law Firm, PA

Re: Lost/destroyed promisory note

It is standard to plead that the note is lost. Generally the attorneys for the lender will produce it at the foreclosure hearing. What is critical is that you have 20 days to respond to the complaint after that date a default will be entered against you and a foreclosure can be quickly completed. At the very least within the 20 days write a letter asking for more time to hire an attorney. If you write a letter to the court telling your story you will probably admit that you have not made payments and the judge will have no choice but to rule against you. For more information regarding dealing with foreclosures go to my web site: www.FlaDebtRelief.com.

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Answered on 9/25/06, 5:16 pm
Robert Roemer Robert Roemer

Re: Lost/destroyed promisory note

In order to assist you I wil need to review the orignal mortgage(or a copy of it)> Please feel to send it via fax-.At this point I can assist you better. I look hearing from you.

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Answered on 9/25/06, 5:26 pm
Scott R. Jay Law Offices of Scott R. Jay

Re: Lost/destroyed promisory note

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

Failing to make the mortgage payments is a sure method to lose your home. The fact that the mortgage has been resold is no excuse. It is very common for some lenders to sell most, if not all mortgages and they are often resold yet again.

I strongly suggest that you consult an attorney immediately before you are found in default, a final judgment in entered and your home is ordered to be sold at a foreclosure sale.

Scott R. Jay, Esq.

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Answered on 9/25/06, 6:00 pm


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