Legal Question in Real Estate Law in Florida

I Signed Mortgage Did not sign note-

can the bank foreclose without allowing me to pay if the Note signor defaulted

I have set up a trust account for my homestead of 10 years, to prove I'm not a deadbeat squatter.

Bank will not accept payments from me-foreclosure to come


Asked on 12/15/10, 7:46 am

1 Answer from Attorneys

Shelly Schellenberg MI & FL private practice

It doesn't make sense that a bank would rather foreclose than to accept payments from you, unless the loan has some sort of really favorable terms, that the bank doesn't want to honor. If the foreclosure is already in progress, there should be a lump sum payment that is due to take the property out of foreclosure and bring the loan current. If the bank received a check designated with that account number, on behalf of the note obligor, it seems that the bank would accept this payment and credit the account. There is something missing from your question.

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Answered on 12/20/10, 7:57 am


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