LEGAL STANDING IN FORECLOSURE UNDER A LOST NOTE

DO BANK’S HAVE STANDING TO BRING SUIT WHEN THEY HAVE LOST THE NOTE OR WERE NEVER IN POSSESSION OF IT TO BEGIN WITH?

The recent ruling under Creadon v. U.S. Bank N.A. 166 So.3d 952 (Fla. 2nd DCA 2015), says NO.  This case involved BancMortgage Financial Corporation, the lender who foreclosed against two homeowners under the theory of a lost note.  The lender never held the note but tried to produce evidence at trial, through one of the bank employees, and through a limited power of attorney, that the bank held the note by virtue of an executed assignment.

While no one disputed that the homeowners were in default, the issue was whether there was enough evidence to warrant substitution as Plaintiff and prove that U.S. Bank had standing to enforce the note.  It proceeded solely on the theory that it was the “holder” of the note and therefore had the right to foreclose.

In this case, however, a foreclosure had been filed previously.  Under that previous filing, the original note had been filed in the registry of the court years before.  Without the return to U.S. Bank of the original note, it could not have been holding the note or been what is referred to as “nonholder in possession” with standing to foreclose.

The court held that U.S. Bank failed to present sufficient evidence that it had standing to foreclose the note.  Unable to prove their right to sue, the court ruled in the homeowners favor.

If you need assistance with a foreclosure, contact us.  At the Law Offices of Jacqueline A. Salcines, PA, we are here to help you with your foreclosure so you don’t lose your property.

Tel.  305-669-5280

Fax: 305-669-5283

Email: J.Salcines@Salcineslaw.com

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Escrow Deposit Disputes

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Escrow Deposit Disputes

House and law

Jacqueline A. Salcines, PA is a South Florida based law firm experienced in handling escrow deposit disputes. Its business attorneys and real estate lawyers have provided guidance and legal advice to clients in the Miami Dade,  Broward, Palm Beach and Monroe County areas that have been essential to the resolution of numerous escrow disputes.

An escrow dispute arises when a buyer, who has placed a deposit on a real estate contract, demands the return of their deposit after either the seller breaches, or they do.  Anytime a real estate sales contract fails to close, a dispute as to who is the rightful owner of the deposit can arise.  While often the buyer cancels on time and entitled to the return of the deposit, often the seller is not agreeable.  The title company must then hold the escrow funds in “Trust” until the parties resolve their disputes.  Often time, a resolution out of court can not be obtained, and the parties must litigate in court for the Judge to determine who is the rightful owner of the escrow deposit.

For individuals and business entities in the South Florida area, Jacqueline A. Salcines, PA is the firm for you. With the necessary skill and knowledge of the law and  a personalized approach to every client, we are here to help.   We listen, understand, and take action based on our client’s needs.

What Florida Law Says About Escrow Deposit Disputes

The Florida Statues and Administrative Rules provide procedures on how disputes should be handled. Meanwhile, the Florida Real Estate Commission (FREC) dictates the action of brokers with regards to escrow disputes.

Florida Statute requires the broker to return the escrow at the time dictated by the law. But if he or she doubts if the recipient is entitled to it, the broker should immediately notify the FREC. He or she is then given thirty business days to begin settlement procedures that will determine who the escrow deposit shall be released to.

Doing this without legal counsel is not only daunting; it puts a dent on an individual or company’s

Contact the Law Offices of Jacqueline A. Salcines, PA if you are facing any type of escrow dispute.  We are a phone call away.

Offices located in Coral Gables

Salcines064

Tel:  305 669 5280

Fax: 305 669 5283

Email: J.Salcines@Salcineslaw.com

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DYCK O’NEAL LAWSUITS ON THE RISE

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SOUTH FLORIDA DEBT SETTLEMENT ATTORNEYS

PROTECTING YOUR INTERESTS WITH DYCK O’NEAL

Recent months have experienced an avalanche of Dyck O’Neal suits.  Whether for deficiency balances after short sales or foreclosure auctions, or whether collecting on a foreclosure judgment, borrowers are worried when receiving these lawsuits.  What you need to know is that as a borrower, YOU  have rights.  On July 1, 2013, the Florida legislature passed the Fair Foreclosure Act  (HR87) which limited the time period for which the judgment creditor could sue from 5 years to 1 year.

For judgments entered prior to the enactment of the new law, the deadline for filing a deficiency suit was July 1, 2014.

If you are receiving letters, calls or have been served with a lawsuit by Dyck O’Neal, call us immediately.  The faster you act, the easier it is to assist you.  At the Law Offices of Jacqueline A. Salcines, PA, we are here to defend and protect your rights!

Jacqueline A. Salcines, Esq., the firm’s lead attorney brings extensive knowledge and expertise with these deficiency collection matters and lawsuits, particularly with Dyck O’Neal, as well as in the field of negotiating and settling debt for pennies on the dollar.   We employ market knowledge, extensive litigation experience,  contract and statutory knowledge, and take proactive and calculated measures to protect our clients. Our knowhow in debt settlement and oral and written contracts as well as negotiating them when they don’t go as planned, is what sets us apart.

With prompt intervention to resolve disputes amicably, without the need to litigate,  we are here to get debt settled, without the necessity of filing for bankruptcy.

With more than 16 years experience,  attorney Jacqueline Salcines has been practicing law with the need of her clients first.  Upon calling the firm you get the feel of how the client is our first priority.  We are here to help you with your purchase or sale and do so with hands-on legal experience.

Jacqueline Salcines, Esq. has been an accountant for over 20 years and an attorney for over 15  years.  She brings her knowledge and experience to every real estate transaction.  Let us go to work for  you!

Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146

TEL. 305 669 5280

DIRECT EMAIL: J.SALCINES

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