Thank you. Unfortunately, if not, the holder of the loan would still be within the applicable statute of limitations
to brings suit. The Florida statute of limitations is 5 years on this...it was recently amended to just 1 year to bring a deficiency judgment but because of when this new law takes effect, the holder of the loan would not be prevented from bringing this suit. Florida, unfortunately, is a deficiency state...which means the holder of this loan can pursue the borrower for the deficiency...the amount owed over the amount of the foreclosure
sale. Whether or not they will continue to pursue this against you depends upon their assessment of the collectibility of a deficiency judgment. So, if you can convince them there is nothing for them to get, and that if they were to pursue a judgment, you would simply file for bankruptcy protection and get the judgment discharged—and even if you have no intention of doing so, it is still good leverage with the them to not pursue the lawsuit because they do not know whether or not you would… then it is unlikely they will continue to spend the time and money necessary to get a judgment they believe is uncollectible in the end.
Your further defense is that the holder of the loan doesn't have the property documentation. You can demand they produce all appropriate documentation, including the original loan documents, all assignment documents, and all evidence proving those signing any assignment documents actually worked at the applicable entities at the time of assignment. In addition, anyone signing affidavits should be made to appear to produce evidence of any and all personal knowledge sworn to in any such affidavits. The demand for this documentation itself often is sufficient to cause them to drop this suit.
This is the part of my job I don't like...when the law is not in favor of my customer. I wish I could tell you that the holder of the loan had no right to file this suit, but, I can only provide you information based on the law so that you can act on the best available information to you. ………..I wish I had better news, but can only hope you recognize and understand my predicament and don't shoot the messenger. I'm sorry!