Does a foreclosure action in a court of equity substantially affect a lender’s right to enforce loan obligations against a borrower?
Because foreclosure actions are litigated in courts of equity, the judges of those courts have traditionally been granted the discretion and authority to do justice between the parties, particularly in circumstances where one party is attempting to profit from his own intentional misconduct. Though in practice this often means that judges are incredibly deferent to the defaulted borrower and their financial circumstances in exercising leniency, such deference is constricted by longstanding Florida judicial precedent safeguarding the sanctity of contracts and the right of enforcement in the event of breach. Florida courts widely recognize that the obligation of a mortgagor to pay and the right of a mortgage to foreclose in accordance with the terms of the note and mortgage are absolute and are not contingent on the mortgagor’s health, good fortune, ill fortune, or other personal circumstances affecting his or her ability to pay.
