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Statute of Limitations › Borrowers › Mortgage Lenders

Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period... more +
Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period usually commencing from the date of the wrong or injury or the discovery of the wrong or injury. Except for under a limited set of circumstances, if an individual does not file a suit within the specified time period, the law bars them from ever suing on that claim. less -
Goodwin

New York’s Highest Court Agrees To Hear Constitutional Challenge to Estoppel Provision of FAPA

Goodwin on

On May 20, 2025, the New York Court of Appeals agreed to hear constitutional challenges to one aspect of New York’s Foreclosure Abuse Prevention Act (FAPA). ...more

Cadwalader, Wickersham & Taft LLP

Firmly Fixated With Allonges - REF News & Views

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In a recent decision by the Supreme Court of the State of New York in Kings County (the Court), HSBC Bank USA, N.A. (the Plaintiff) initiated a mortgage foreclosure action against Jack and Sabah Srugo (collectively, the...more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Upholds Reverse Redlining Verdict Against Mortgage Lender

Sheppard Mullin Richter & Hampton LLP on

On February 14, a divided Second Circuit panel upheld a 2016 jury verdict which found that a mortgage lender violated, among other laws, the Equal Credit Opportunity Act (“ECOA”) by engaging in “reverse redlining” when it...more

Goodwin

New York Courts Split on the Constitutionality of the Foreclosure Abuse Prevention Act

Goodwin on

In the six months since New York’s governor signed the Foreclosure Abuse Prevention Act, L. 2022, ch. 821 (eff. Dec. 30, 2022) (FAPA), a split has emerged about whether the law applies retroactively....more

Orrick, Herrington & Sutcliffe LLP

NY restricts lenders’ ability to reset statute of limitations on foreclosures

Orrick, Herrington & Sutcliffe LLP on

In December, the New York governor signed A 7737-B, the “Foreclosure Abuse Prevention Act,” which amends the rights of parties in foreclosure actions....more

Blank Rome LLP

New York’s Highest Court Makes Key Rulings in Favor of Lenders Clarifying What Accelerates and De-Accelerates a Mortgage Debt for...

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The New York Court of Appeals’ decision set bright-line rules that a noteholder’s voluntary discontinuance of a foreclosure action, in itself, revokes the acceleration of a mortgage debt, and a default letter stating that the...more

Rosenberg Martin Greenberg LLP

Maryland Court of Special Appeals Confirms That Foreclosure Actions Are Not Subject to Statute of Limitations

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During the COVID-19 pandemic, a patchwork quilt of statutes, regulations, executive orders, and court orders have imposed on again, off again, restrictions on the filing and prosecution of foreclosure cases. Few of these...more

Troutman Pepper Locke

Maryland Court of Special Appeals Holds That Foreclosure Actions Are Not Subject to a Statute of Limitations

Troutman Pepper Locke on

Troutman Pepper represented the defendant/appellee in Wanda Daughtry, et al v. Jeffrey Nadel, a case in which the appellants argued that a foreclosure action filed six years after the borrowers defaulted was time-barred. The...more

Blank Rome LLP

NY Appellate Court Holds Default Letter Stating Lender “Will Proceed to Automatically Accelerate” Did Not Accelerate the Debt and...

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In U.S. Bank N.A. v. Gordon, 176 A.D.3d 1006 (2d Dept. 2019), the New York Appellate Division, Second Department, held that a notice of default stating that if the loan was not made current, the lender “will automatically...more

Hinshaw & Culbertson LLP

New York is Split on Whether Notice of Default Letters Trigger the Statute of Limitations

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In Milone v. US Bank, N.A., a New York intermediate appellate court held that a letter to a borrower stating that the failure to cure a mortgage loan default "will result in acceleration" does not start the clock on the...more

Clark Hill PLC

2017-18 Arizona Case Law Affecting Commercial Real Estate and Lending

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The following information accompanies a presentation Mike gave to members of the Arizona Commercial Mortgage Lenders Association (ACMLA) on March 13, 2018. Arizona Case Law – Trustee’s Sale Statute of Limitations;...more

Burr & Forman

Chorus of Critics Grows Again for Third DCA’s Beauvais Opinion on Statute of Limitations, Rehearing Granted by Third DCA

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The opinion of Florida’s Third District Court of Appeal in Deutsche Bank Trust Co. Americas v. Beauvais, No. 3D14-575, 2014 WL 7156961 (Fla. 3d DCA Dec. 17, 2014) has been a lightning rod for criticism from federal courts in...more

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