Can a bank proceed with foreclose if they cannot produce the original bank note?

UPDATED: Feb 21, 2012

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Can a bank proceed with foreclose if they cannot produce the original bank note?

What if they produce a copy but it is not the correct mortgage amount?

Asked on February 21, 2012 under Real Estate Law, Florida


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Different states have different requirements with respect to requirements of whether the foreclosing lending institution is required to produce the "wet inked" promissory note and trust deed to have an effective and valid foreclosure of real property. Some require the "wet inked" documents. Some allow certified copies of the trust deed or mortgage.

I recommend that you consult with a real estate attorney in your state regarding your question for a more specific answer. Having an incorrect mortgage amount in a copy of the document also creates a problem. You need to remember that the mortgage gets paid down over time and that the amount owed could be very different that what is on the initial note.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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