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Fourth DCA Confirms Association Lien Foreclosure Valid Despite Pending Mortgage Foreclosure – Arias Bosinger Fourth DCA Confirms Association Lien Foreclosure Valid Despite Pending Mortgage Foreclosure Despite a slowing in the number of Florida mortgage foreclosure cases, many community associations still face situations where a foreclosing lender fails to timely complete its foreclosure resulting in the property sitting abandoned and not contributing.
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See Stone v. BankUnited, 115 So. 3d 411, 413 (Fla. 2d DCA 2013) (" ‘Because a promissory note is a negotiable instrument and because a mortgage provides the security for the repayment of the note, the person having standing to foreclose a note secured by a mortgage may be either the holder of the note or a nonholder in possession of the note.
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