Mortgage Lenders News

Florida’s Third DCA Reverses Course on Statute of Limitations for Mortgage Foreclosure

The Florida Third District Court of Appeal (DCA), sitting en banc, reversed itself this week and held that the five-year statute of limitations did not bar a second foreclosure suit filed on a subsequent payment default so long as the subsequent default occurred less than five years before the commencement of the second action.

In a landmark ruling, the Third District Court of Appeal in Florida. by the five year statute of limitations governing mortgage foreclosures.

Statutes of limitations are generally straightforward. In personal injury, fraud and oral contract cases, the right to sue expires after four years. In professional malpractice, it’s two years. In written contracts, including rent collections and mortgages, the statute of limitations is five years.

Third DCA Changes Stance on Foreclosure Statute. As a result, the trial court ruled that the statute of limitations was applicable and forbade a subsequent foreclosure, a decision which Florida’s Third DCA supported. The Third DCA held that unless an affirmative action was taken to decelerate the loan, the clock keeps running to protect the borrower from another foreclosure action.

The 2018 Florida Statutes. in which case the lien shall terminate 5 years after the date of maturity as extended. (3) If the record of the mortgage shows that it secures an obligation payable in installments and the maturity date of the final installment of the obligation is ascertainable from the record of the mortgage,

[8] The Third District Court’s reversal. whether Florida’s statute of limitations bars a foreclosing mortgagee from seeking to recover mortgage installment payments that are more than five years.

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The Florida Third District Court of Appeal (DCA), sitting en banc, five-year statute of limitations did not bar a second foreclosure suit. Beauvais, represents a critical victory for the mortgage industry and brings the Third DCA in. After granting rehearing en banc, the Third DCA altered course this week.

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From Res Judicata to Statutes of Limitations-the Fifth DCA Extends the Singleton Rationale: In Singleton, the Florida Supreme Court held that "a dismissal with prejudice in a mortgage foreclosure action does not necessarily bar," on the grounds of res judicata, "a subsequent foreclosure action on the same mortgage."

Mortgage Fraud at Highest Level Since Recession – Saldutti Law Group But mortgage fraud is now far below the disastrous levels of 2004 through 2007, when it was rampant and uncontrolled in the Phoenix-area." Real estate analyst Fletcher R. Wilcox told The Dealmaker that leading up to the Great Recession there was a lot of property value fraud, with properties being over valued and sold for more than what they.

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