House Bill 0467

    Florida House of Representatives - 2000                 HB 467

        By Representative Goodlette






  1                      A bill to be entitled

  2         An act relating to mortgage foreclosure

  3         proceedings; creating s. 702.11, F.S.;

  4         providing for a mortgage reinstatement or

  5         payoff quote under certain foreclosure

  6         circumstances; specifying notice requirements;

  7         providing procedures and requirements for

  8         disputing reinstatements or payoff quotes;

  9         providing for resolution of such disputes;

10         providing for waiver of objections to

11         reinstatements or payoff quotes under certain

12         circumstances; specifying nonapplication of

13         certain consumer collection practice provisions

14         to certain persons and firms under certain

15         circumstances; providing an effective date.

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17  Be It Enacted by the Legislature of the State of Florida:

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19         Section 1.  Section 702.11, Florida Statutes, is

20  created to read:

21         702.11  Foreclosure proceedings.--

22         (1)  After the filing of a complaint initiating

23  foreclosure proceedings, the mortgagor may request from the

24  mortgagee's attorney a written reinstatement or payoff quote

25  setting forth the terms upon which any default under the

26  mortgage instrument may be cured, including the itemized

27  amount of any required payments.  The mortgagee's attorney may

28  serve the mortgagor with the written reinstatement or payoff

29  quote by regular mail or facsimile transmission.  The written

30  reinstatement or payoff quote shall include the following

31  notice:

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CODING: Words stricken are deletions; words underlined are additions.






    Florida House of Representatives - 2000                 HB 467

    704-120B-00






  1         "Pursuant to s. 702.11, Florida Statutes,

  2         within 15 days after being served with this

  3         reinstatement or payoff quote, you may dispute

  4         any portion of the reinstatement or payoff

  5         quote by filing an appropriate motion with the

  6         court in the pending foreclosure proceeding and

  7         by serving such motion to the mortgagee's

  8         attorney at the address stated herein.  Your

  9         failure to dispute this reinstatement or payoff

10         quote as provided in this notice will result in

11         the waiver of any objections to the

12         reinstatement or payoff quote, notwithstanding

13         any other rights you may have in the pending

14         foreclosure proceeding."

15         (2)  If the mortgagor disputes any portion of the

16  reinstatement or payoff quote, the mortgagor may file an

17  appropriate motion in the foreclosure proceeding asking the

18  court to determine whether the challenged portion is valid

19  under the mortgage instrument.  Any such motion shall be filed

20  and served within 15 days after service of the reinstatement

21  or payoff quote on the mortgagor.  After the court considers

22  the motion and any response to the motion, and after any

23  appropriate hearing, the court's findings shall be entered in

24  a written order.  If the court finds the challenged portion of

25  the reinstatement or payoff quote invalid, the court may order

26  an appropriate alteration of the reinstatement or payoff quote

27  and may also order such sanctions as are authorized by law.

28  If the mortgagor fails to challenge the reinstatement or

29  payoff quote within 15 days after being served the

30  reinstatement or payoff quote, the mortgagor shall be deemed

31  to have waived any objections to the reinstatement or payoff

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CODING: Words stricken are deletions; words underlined are additions.






    Florida House of Representatives - 2000                 HB 467

    704-120B-00






  1  quote, notwithstanding any other rights the mortgagor may have

  2  in the pending foreclosure proceeding.

  3         (3)  After a complaint in a foreclosure proceeding has

  4  been filed, the provisions of part VI of chapter 559 shall not

  5  apply to the mortgagee's attorney, the attorney's law firm, or

  6  employees of the attorney's law firm.

  7         Section 2.  This act shall take effect upon becoming a

  8  law.

  9

10            *****************************************

11                          HOUSE SUMMARY

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      Provides, under mortgage forclosure proceedings, for a
13    mortgage reinstatement or payoff quote for purposes of
      curing any default under the mortgage instrument.
14    Provides procedures and requirements for disputing
      reinstatements or payoff quotes and for resolving such
15    disputes. See bill for details.

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