Parker & DuFresne –
Before your mortgage company can file a foreclosure on your Florida home, it must send you a very specific letter known as a “Notice of Intent to Accellerate” or “Default Letter.” If your mortgage servicer fails to serve you with a proper notice, your foreclosure is improper and subject to dismissal.
Nearly every residential mortgage is a Freddie Mac/Fannie Mae Uniform Instrument, regardless of whether either Fannie Mae (FNMA) or Freddie Mac (FHLMC) owns the mortgage. The mortgage servicing industry created the “Uniform Instrument” because Fannie and Freddie own 60% of all mortgages, but before they will purchase a mortgage loan from a bank, the security instrument (ie. the mortgage) must meet Fannie or Freddie guideline. So, for the sake of uniformity and ease of servicing by the banks, the same uniform mortgage is used throughout the country in almost every case.
