Asked in Foreclosure and Real Estate Law for Florida

Q: What is considered a First Mortgage in the State of Fl?

What is considered a First Mortgage in the State of Fl?

Is it based by date or satisfaction?

The property in question has 4 Mortgage notes in total ranging from 2001 when the home was purchased to 2005.

The first two mortgages on the property in 01 and 03 both have satisfaction notes.

The Third was filed in 2005 and has not been given a note of satisfaction, however there is another mortgage/ line of credit by the same lender issued later that year under a different loan number that also has a note of satisfaction.

Is the third but only active mortgage considered the first mortgage on the home?

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1 Lawyer Answer
Seril L Grossfeld
Seril L Grossfeld
  • Fort Lauderdale, FL

A: Mortgages are in the priority of time. So a first mortgage would be first in time. If you have satisfied the original first or second in time mortgage(s) they are are no longer liens on your home and are no longer mortgages. So the next mortgage you put on your home would be considered at this point a "first" mortgage.

First mortgage can also be considered the mortgage you acquired when you purchased the home. If it has been satisfied it is no longer a mortgage and no longer counted in priority.

First second or third at this point would be which one is priority it goes by earliest in time at this point for your home.

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