All Forum Posts by: Peter Farrell

After almost a year I am now a lot wiser with the issues.

1. The statute of limitations defense is NOT dead at all. Currently the Florida Supreme Court is hearing oral arguments on the Bartram ruling. We have a conflict between appeals courts at the moment with the recent 3rd DCA Beauvais ruling upholding the SOL. The Supreme Court should make SOL clear soon.

2. Without exception the Plaintiff must prove they have the original wet ink Note or can prove all the elements for a lost note affidavit at the time they file the complaint. This must be certified under the penalty of PERGURY by the bank to have standing to foreclose.

Many cases have been dismissed without prejudice because of this.

Yes I am new to this. But learning fast. I have ordered a title search should have results shortly. Although I expect it will confirm a lien for a 1st mortgage.

Can I trust a local attorney with my research? Will I be bidding against his best friend on auction day?

Any recommendations for an honest attorney in the Tampa area?

I don't understand how lack of activity by a plaintiff that causes the court to make a motion for dismissal would toll the statute of limitations. Sure as hell doesn't here in Virginia.

Also why would a $400K note that has been in default for almost 6 years be sold back to a HSBC as trustee for GSAA Investment Trust? Why have the banks waited almost 6 years to Foreclose?

Just checked the court records again. The Foreclosure proceedings by Greenpoint was DISMISSED in April 2012 due to no action. Surely they must start again from scratch.

Any thoughts?

OK Wayne,

Just checked the court records. The LP in 2008 was the first mortgage. The last action by Greenpoint was in Sept 2011 making a motion to delay a foreclose sale. But since that time the property have been assigned to BOA and HSBC.

Does that not mean HSBC would need to start a new foreclosure process?Would this new filing not be time barred?

Got it on the Robo signing...but does not seem very fair to me.

Hi Wayne,

Was hoping you might chime in. I may not have made it clear. The borrower went into default almost 6 years ago. No payments have been made for 6 years. The first mortgage holder (whoever that turns out to be) has not even started a foreclosure. Just the HOA assoc.

Also MERS has only made 1 assignment in 2011 using a Robo signer. I can't see how a Robo signed assignment would be valid. Correct me if I am wrong.

Peter

I am about to buy a HOA foreclosure Condo at auction in Florida and have some questions about an existing 1st mortgage. Involves Robo signing, Statute of Limitations, show me the note:

First a little background.

1. Borrower gets a $400K 1st from Greenpoint in Feb, 2005. (Mortgage held by Greenpoint, Note to MERS as nominee)

2. Borrower gets a 2nd for $50K from Greenpoint in Feb, 2005 (Mortgage held by

3. Greenpoint, Note to MERS as nominee)

4. Borrower defaults on both around Jan 2008.

5. Greenpoint files a Lis Pendens to Foreclose in Mar 2008

6. MERS assigns to Greenpoint in May, 2008 (Uses proven Robo signer Tina Jones)

7. Condo Assoc gets lien for $45K Dec 2009

8. Greenpoint assigns to BOA in Dec 2011

9. MERS satisfies 2nd mortgage Sept 2012

10. BOA assigns to HSBC as trustee for GSAA Home Eq Trust Asset Backed 2005 in Oct 2013

    My strategy is to buy it at the HOA auction understanding I have a clouded title. Let the dust settle and then file a Quit Claim suite against Greenpoint or MERS or HSBC to remove the lien.

    I believe I have grounds based on:

1. Florida 5 year statute of Limitations

2. Fraudulent assignment of mortgage.

3. Likely “Show me the note” problems.

I would appreciate any comments from knowledgeable forum members on the issues mentioned.

Regards,

Peter