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Not made payment in over 5 years mtg - No actions pending - Prior attempts dismissed. Do some judges enforce the 5 yr rule?
Anonymous2 views4 answers
Can the mortgage company win a foreclosure action if i have defense counsel based on the 5 year - no payment rule? I mean the court case that said 5 yr rule is dead in water because the clock restarts after each missed payment is ludicrous, as it would make that law moot in 99% (or more) of circumstances. I was in a rabbit hole with the mortgage co. for so long and never got a reason why my modification package was not sent in 2010. I was approved then by letter, but then later denied. Send multiple complete packages to them. And the process just started over again. One representative of the bank told me they had to tell me by letter which programs were denied and why. And that it is a new law for them to adhere to. I never got a reason or programs sought out by bank. thanks much
The law regarding the 5 year Statute of Limitations on a mortgage foreclosure in Florida is up in the air. We have conflicting decisions from different District Courts of Appeal and it is currently up before the Florida Supreme Court. If the Supreme Court rules in favor of homeowners (which I hope they do) the Starute of Limitations will only prevent the bank from filing for foreclosure, it will not eliminate the lien from the mortgage. What that means on a practical level is that you will be able to live in or rent out the house, but you will not be able to sell it without paying off the mortgage
With regards to your loan modification, you should definitely be seeking the help of an experienced attorney to help you at this point
As you stated, the current state of the law is as you said it. Many foreclosure defense lawyers do not agree with this, but is the current law that is binding on the state. You still have plenty of time to submit a new the modification package and try to get it approved though. Sometimes it helps to have a lawyer submit it who knows how the banks work and what certain banks want or will look for. You should contact a foreclosure defense lawyer immediately to start this though.
This is a fact specific analysis in order for one to determine if you have a defense using the Statute of Limitations. I recently argued this issue, as well as the Statute of Repose, in a case in the 2nd DCA. If you would like to learn more about the argument I presented to the Court, which was in large part adopted by the 3rd District in the Beauvais case, please paste this link into your browser -->> goo.gl/JlK0yo
If they recently filed again, even if you don't have a good defense using the Statute of Limitations, odds are a good lawyer can find some other ones for you to use. You want to be sure to respond timely to avoid having a default entered against you. By the way you will see in my argument that I agree with you that once acceleration occurs, it can't happen again unless it is first ended somehow. The rule is not really 5 years no payments as you suggested, it is five years from acceleration which could be very different things.
Good luck, and I hope you decide to find some good help with your case.
