Holder of Note and Mortgage Had Standing to Pursue Foreclosure Action

Florida District Appellate Court decision (May 8, 2015)

In this case, in 2006  homeowners executed a promissory note secured by a mortgage on their property in favor of Option One Mortgage.  The homeowners defaulted and, subsequent to the default, the original lender assigned the note to another party, Liquidation Properties, Inc. (LPI).  In 2008, LPI commenced a foreclosure proceeding against the homeowners’ property. In 2012, another company, AS Lily, LLC was granted permission to amend the complaint that had been filed by LPI , and thereafter filed a First Amended Complaint to continue with the foreclosure action. Attached as exhibits to the First Amended Complaint were the note, mortgage, and a blank endorsement.