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Florida 5th District Court of Appeal Clarifies Foreclosure Statute of Limitations for Amounts Owed

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  • /Florida 5th District Court of Appeal Clarifies Foreclosure Statute of Limitations for Amounts Owed

The 5th DCA recently held in Velden vs Nationstar Mortgage, 5D16-3628 (January 12, 2018) that amounts beyond the 5 year statute of limitations period in foreclosure were not collectible.

The Florida Supreme Court in Bartram previously ruled that each mortgage payment missed was a new default upon which the bank could foreclose. But the Court did not address the payments that were more than 5 years old.

The 5th DCA clarified this finally finding that amounts more than 5 years before filing were not collectible by the lender, although the lender still foreclosed. The bank was entitled to collect the payments within the 5 year period before filing the complaint, plus all future payments under the acceleration.

This could be a strategy to use in defense of a foreclosure where the borrower wants to get rid of the house with a minimal risk of a deficiency judgment, or to mitigate the amount owed in the final judgment against the borrower.

  • 26 January 2018
  • Foreclosure , Real Estate
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  • boca raton foreclosure defense , defend foreclosure , delray beach foreclosure defense , florida foreclosure statute , florida statute of limitations on mortgage debt , foreclosure , foreclosure defense , foreclosure judgment , foreclosure statute of limitations , fort lauderdale foreclosure defense , mortgage foreclosure , palm beach foreclosure defense
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New Condo Laws Effective July 1, 2017 →← Florida 5th DCA Holds Trial Court Incorrect Distributing Foreclosure Surplus to Third Party Bidder
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