Federal National Mortgage Association v. Linares

On September 6, 1996, Mauricio J. Li-nares executed a promissory note and mortgage. Linares defaulted under the note and mortgage when he failed to make a payment due April 1, 2010, and all payments thereafter. Federal National Mortgage Association (Fannie Mae) subsequently sought to foreclose on the mortgage. Paragraph twenty-one (21) of the mortgage required Fannie Mae to advise Linares of the default prior to filing a foreclosure action. Paragraph 21 of the mortgage provides:

21, Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower’s breach…