Law Block Chapter 25 PowerPoint: Foreclosure Law and Eviction Law

1
Mortgage and

Chapter 25 Foreclosure
Basics




2
Foreclosure Law and Eviction Mortgage Types
and Terms
Law

3

Introduction to
Foreclosure


















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1
Mortgage and
Foreclosure

Section 1 Basics



2
Mortgage Types
Overview of Foreclosure and Terms



3

Introduction to
Foreclosure


















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1| Overview of Foreclosure:

Mortgage and Foreclosure Basics


















 Source of Law


 State statute

 Federal regulations

 Dodd-Frank Act

 Mortgage Theory

 Title theory

 Lien theory

 Intermediate theory














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1| Overview of Foreclosure:

Mortgage Types and Terms

















 Types of Mortgages


 Fixed rate mortgages

 Adjustable rate mortgages

(ARMs)

 Balloon mortgages

 FHA loans

 2 nd mortgages & HELOCs

 Acceleration clause















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1| Overview of Foreclosure:

Introduction to Foreclosure


















 Recording statutes & lien priority


 Race

 Notice

 Race-notice

 Judicial vs. Non-judicial


foreclosure

 Jurisdiction


 Circuit court












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1
Initiating

Foreclosure
Section 2

2

Contested
Foreclosures
Foreclosure Procedure


3

Foreclosure
Judgments



















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2| Foreclosure Procedure:

Initiating Foreclosure


















 Default


 120-day delinquency


requirement

 Consumer Financial Protection

Board, 12 C.F.R. § 1024.41

 Complaint


 Lis pendens















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2| Foreclosure Procedure:

Contested Foreclosures





















 Answer (or uncontested)


 Limited discovery


 Motion for summary

judgment/motion to dismiss


 Trial (court of equity)


















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2| Foreclosure Procedure:

Foreclosure Judgments















 Final Judgment of Foreclosure


 All foreclosure judgments are final

in Florida

 Foreclosure sale


 Deficiency Judgment

 S.o.L. of 1yr. for residential

properties with no more than 4 units

 Eviction proceedings to recover


actual possession












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Section 3

1
Defenses


Foreclosure Defenses and 2


Alternatives Alternatives


























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3| Foreclosure Defenses and Alternatives:

Defenses



















 Cure/reinstatement


 Defective service

 Lack of default


 Failure to comply with federal


regulations

 Lack of standing


 Redemption













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3| Foreclosure Defenses and Alternatives:

Alternatives




















 Loan modification


 Forbearance

 Repayment plan


 Bankruptcy

 Deed in Lieu


 Short sale
















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1

Section 4 Types of
Tenancies



2
Overview of Eviction Landlord-Tenant

Duties

























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4| Overview of Eviction:

Types of Tenancies






















 Types of tenancies


 Term of years

 Periodic

 At-will

 Tenancy at sufferance/holdover

tenancy
















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4| Overview of Eviction:

Landlord-Tenant Duties
















 Landlord duties

 Deliver possession of the

leased premises

 Covenant of quiet enjoyment

 Implied warranty of habitability

 Tenant duties


 Payment of rent

 Prohibition on committing waste

 Maintenance of the leased

premises










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1
Section 5 Eviction Notices




2

Eviction Procedure Judicial
Procedure


























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5| Eviction Procedure:

Eviction Notices















 Nonjudicial

 3-Day Notice for Nonpayment of

Rent

 7-Day Notice of Noncompliance/7-

Day Notice to Cure

 7-Day Notice of Termination

 Other notices of termination

 15-day (month-to-month)

 30-day (quarter-to-quarter)

 60-day (year-to-year)












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5| Eviction Procedure:

Judicial Procedure










 If tenant fails to cure or


vacate, judicial proceedings

ensue


 Complaint

 Answer

 Hearing

 Final Judgment for Removal

of Tenant


 Writ of Possession


 Prohibition on self-help

eviction


 Post-foreclosure eviction






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Section 6
1

Eviction
Defenses
Eviction Defenses



























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6| Eviction Defenses:

Eviction Defenses
















 Cure

 Material noncompliance


by landlord

 Lack of breach/breach


out of tenant’s control


 Defective notice

 Retaliatory eviction


 Discrimination













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References












Fla. Stat. §§ 45.0315, 48.23, 83.40-67, 695.01,


702.01-11, 760.23.





12 C.F.R. § 1024.41.





42 U.S.C. § 3604.


























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