To foreclose my home, does the note have to be in my Bank's name?

Banks use various methods to transfer collection rights of a note to other parties. An assignment can transfer a mortgage, a note or both. A blank endorsement on the note can also leave it open ended as to transfer. But with all these transfers, a chain of title and entitlement, as well as notice to you must be provided. Florida Statutes require you to be notified of assignments. Blank endorsements also have rules and laws that must be adhered to. Many banks bypass these rules and laws and then file suit, whereby a standing defense may be required to have the bank prove its ownership and right to file suit and go after your home. Speak to an attorney today to clarify all this for you and see whether the lawsuit filed by the bank can move forward. THe first consult is always free of charge and can lead to great information for you.

That sounds normal. Obviously you and the lender cannot execute a new note every time it is sold. Normally when ever it is assigned you need to file an assignment piece with the local recorder of deeds. Mortgages change, notes generally do not. But, every situation is unique.

A “holder” of a note may enforce the note as long as the legal requirements of transfer of the note have been complied with. A consultation with a competent attorney will go a long way toward answering all of your questions, and will be worth every penny. This response does not create an attorney-client relationship. Unless you are already a client of the Mallory Law Group, pursuant to an executed employment agreement, you should not use, interpret, or rely on this response as legal advice or opinion. Do not act on any information in this response without seeking legal advice. Earl K. Mallory