How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 111549
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
10285032
Type Your Real Estate Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

How do the banks loose on foreclosure cases in fla. (Bank of

Customer Question

How do the banks loose on foreclosure cases in fla. (Bank of America)
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Unfortunately, in FL and most states, it is fairly impossible for a lender to lose on foreclosure. The one way they do lose is when they cannot prove the promissory note on the mortgage. Other than not being able to prove the note, the bank only has to prove there is a note and that it has not been paid upon. Proving a loan is predatory, in that the interest rates are excessive or it contains unfair balloon payment clauses, is very difficult and rarely happens. It is not really your attorney is on their side, it is that the laws are more favorable to the banks than to the borrower and it is very difficult if not almost impossible for the borrower to prove the bank has no right to foreclose.

Related Real Estate Law Questions