Senate Bill 0760

    Florida Senate - 2000                                   SB 760

    By Senator Laurent





    17-250A-00

  1                      A bill to be entitled

  2         An act relating to mortgage foreclosure

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

  4         providing procedures under which a mortgagor

  5         may obtain, and dispute elements of, a

  6         reinstatement or payoff quote after foreclosure

  7         proceedings have been instituted; providing an

  8         effective date.

  9

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

11

12         Section 1.  Section 702.11, Florida Statutes, is

13  created to read:

14         702.11  Foreclosure proceedings.--

15         (1)  After the filing of a complaint initiating

16  foreclosure proceedings pursuant to this chapter, the

17  mortgagor may request from the mortgagee's attorney a written

18  reinstatement or payoff quote setting forth the terms upon

19  which any default under the mortgage instrument may be cured,

20  including the itemized amount of any required payments. The

21  mortgagee's attorney may serve the quote on the mortgagor via

22  regular U.S. mail or via facsimile transmission. The written

23  reinstatement or payoff quote must include the following

24  notice:

25         Pursuant to section 702.11(2), Florida

26         Statutes, within 15 days after service of this

27         quote on you, you may dispute any portion of

28         the quote by filing an appropriate motion with

29         the court in the pending foreclosure proceeding

30         and by serving such motion to the attorney for

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






    Florida Senate - 2000                                   SB 760
    17-250A-00




  1         the mortgageholder at the address stated

  2         herein.

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

  4  reinstatement or payoff quote, the mortgagor may file an

  5  appropriate motion in the foreclosure proceeding asking the

  6  court to determine whether the challenged portion is valid

  7  under the mortgage instrument. After consideration of the

  8  motion, and the response thereto, and after any appropriate

  9  hearing, the court's findings shall be entered in a written

10  order. If the court finds the challenged portion of the

11  reinstatement or payoff quote invalid, the court may order an

12  appropriate alteration of the quote and may also order such

13  sanctions as are authorized by law.

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

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

16  apply to the mortgagee's attorney or the attorney's law firm.

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

18  law.

19

20            *****************************************

21                          SENATE SUMMARY

22    Provides a procedure under which a mortgagor may, after
      foreclosure proceedings under the mortgage have been
23    initiated, obtain from the mortgagee's attorney a written
      quote containing the reinstatement or payoff amount. The
24    quote must contain notice of the mortgagor's rights to
      challenge any part of the quote. The court will determine
25    the validity of any challenged part and may make
      appropriate remedies if it determines the challenged part
26    to be invalid under the mortgage. An attorney acting
      under this section is exempt from statutory provisions
27    governing consumer collection practices.

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