Entries by brett

UPDATE RE: BANKRUPTCY SURRENDER – DEBTOR’S SURRENDER IN BANKRUPTCY MOOTED APPEAL OF FORECLOSURE JUDGMENT

Earlier this month the Second DCA dismissed an appeal of a final summary judgment of foreclosure based on the statement of intentions the debtor/mortgagor (“Lewis”) filed in his chapter 7 bankruptcy proceedings. Lewis v. Innova Inv. Group, LLC. In Lewis the mortgagor appealed the bank’s final judgment of foreclosure and then the day before the foreclosure sale petitioned […]

COURT CLARIFIES REQUIREMENTS FOR PROVING SATISFACTION OF CONDITIONS PRECEDENT & EXPLAINS NEGATIVE AMORTIZATION DOES NOT DESTROY NEGOTIABILITY OF NOTE

The Second DCA recently issued an opinion wherein it agreed with its sister court that a note containing a negative amortization provision is still a negotiable instrument as defined by Florida Statute § 673.104(1) Stacknik v. U.S. Bank Nat’l Ass’n as Tr., MASTR Adjustable Rate Mortgages Tr. 2007-3 Mortgage Pass-Through Certificates, Series 2007-3. In Stacknik, the borrower […]

REQUIREMENTS FOR FORECLOSING A MODIFIED LOAN IN FLORIDA

In 2016 the Fourth DCA reversed a mortgagee’s final judgment of foreclosure and dismissed the case due to the mortgagee’s failure to introduce the written loan modification into evidence at trial. Rattigan v. Central Mortgage Co., 199 So. 3d 966 (Fla. 4th DCA 2016). In Rattigan, the original note “capped the principal amount that could be owed at $747,500.” […]

FLORIDA COURTS DISAGREE ON LIABILITY FOR CONDOMINIUM ASSESSMENTS

The First DCA rendered an opinion this month wherein it certified conflict with the Third DCA over a condominium unit owner’s liability for association assessments and liens pursuant to § 718.116(1)(a), Fla. Stat., which pertains to a. Coastal Creek Condo. Ass’n, Inc. v. Fla Tr. Services LLC, 1D18-1457, 2019 WL 3114229, at *1 (Fla. 1st DCA July […]

US SUPREME COURT FINDS BANK NOT SUBJECT TO CIVIL CONTEMPT IF THERE IS A “FAIR GROUND OF DOUBT” AS TO WHETHER BANK’S CONDUCT WAS LAWFUL UNDER BANKRUPTCY DISCHARGE ORDER

On June 3, 2019, the United States Supreme Court (“USSC”) granted certiorari relief and weighed in on “the criteria for determining when a court may hold a creditor in civil contempt for attempting to collect a debt that a discharge order has immunized from collection.” Taggart v. Lorenzen. Taggart involved a debtor, Bradley Taggart, and Taggart’s former business […]