Foreclosure Stalled for over 2 years but ultimately Defendant Loses the Property
The Third District Court of Appeals for the state of Florida handed down its opinion in Dawson v. Wachovia this past week. Mr. Dawson and his business defaulted on a mortgage secured by commercial property in April of 2008. A foreclosure suit was filed by Wachovia against Dawson and his business and the litigation roller coaster began.
Wachovia brought suit as the noteholder but used a different company to service the loan. The company that serviced the loan used to own the note but assigned it to Wachovia following the sale to Mr. Dawson and his business.
Dawson tried all types of tactics to delay the sale and get the case dismissed but was ultimately unsuccessful. However, he nor his business made a payment on the note for over 2 1/2 years and was able to stay on the property. The Third District ultimately affirmed the order of the sale of the property and the judgment was not set aside.
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Greg Gilbert
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