Legal Question in Real Estate Law in Florida

What if a Promissory Note is Lost by Lender/ Mortgagee?
* Florida jurisdiction - Real Estate related question

* My Mortgage Lender says they have lost the ''NOTE''

* But they still have the ''MORTGAGE'' instrument recorded

* I am disputing the correct monthly payment amount due

* The Lender/Mortgagee has started foreclosure proceedings, which within text of their legal filing petition, is how I come to the knowledge they admit the ''Note'' has been lost

* QUESTION: Not having the actual original ''NOTE'' how is this detrimental to the Lender/Mortgagee and/or beneficial to me as the ''Borrower/Mortgagor''? what are the consequences of not having an important legal instrument as is the ''NOTE''

Asked on 8/16/02, 3:41 pm

David Slater David P. Slater, Esq.

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Re: What if a Promissory Note is Lost by Lender/ Mortgagee?

While the note itself is the best evidence, a copy of same or other proof of its content is admissable once the original is proven lost.

Answered on 8/16/02, 5:25 pm

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