Legal Question in Real Estate Law in Florida
mortgage foreclosure
I hold a mortgage on a house owned by son-in-law. The mortgage is recorded at the county courthouse. He is more than 60 days behind in the payments. The house is solely in his name. My daughter and he are separating and heading for divorce. What steps do I take to foreclose on the house. The house is valued at $140,000 and the mortgage is less than one year old and was for $65,000. I wish to regain the money put into building the house and also be able to assure that my daughter can obtain her 50% of it's equity in a divorce.
2 Answers from Attorneys
Re: mortgage foreclosure
I second Mr. Slater's recommendations. If the Note and Mortgage were properly prepared, you should be entitled to recover all the fees and costs you incur in relation to the foreclosure action, so ultimately the attorney's fees will be paid by the defaulting mortgagor. Good luck.
Re: mortgage foreclosure
Chapter 702 of the Florida Statutes controls foreclosure. In addition, you should read your mortgage and note and comply with the default terms. I suggest you retain a lawyer. Good luck.