This really shouldn’t be a BOMBSHELL and I shouldn’t have to keep abusing my SHIFT key to EMPHASIZE the importance of our courts correctly applying the law in foreclosure cases, but it’s just so darn exciting to see. The fact of the matter is Florida’s Second District Court of Appeals in particular has been very consistent in carefully applying hundreds of years of case law and judicial wisdom in foreclosure cases.
Our country is in major trouble because whomever is in power has been avoiding taking the rational step of sitting the banks down, telling them they’ve screwed up and making them suffer consequences for their actions. Had we done this on a national level in 2008, we would have been a whole lot further along in solving one aspect of this crisis that we’re immersed right in the middle of, but our national “leadership” has lacked the foresight to do this.
Thankfully, the good judges in Florida’s 2nd District Court of Appeals see the bigger picture and are making the correct decisions for us….my favorite quote from the opinion:
Because J.P. Morgan did not own or possess the note and mortgage when it filed its lawsuit, it lacked standing to maintain the foreclosure action. See Bank of N.Y. v. Williams, 979 So. 2d 347, 347 (Fla. 1st DCA 2008); Jeff-Ray Corp. v. Jacobson, 566 So. 2d 885, 886 (Fla. 4th DCA 1990). It follows that when J.P. Morgan filed its mortgage foreclosure action, it knew or should have known that its action was unsupported by the material facts necessary to establish the claim.
Please read the full opinion below: