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Statute of Limitations › Foreclosure › 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 -
Hinshaw & Culbertson - Consumer Crossroads

Recent Cases Offer Instruction for Lenders on Avoiding FAPA Estoppel in Foreclosure or Quiet Title Actions in New York

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Under the Foreclosure Abuse Prevention Act (“FAPA”), effective as of December 30, 2022, a lender in a New York foreclosure or quiet title action can be estopped from asserting that the subject mortgage loan was not validly...more

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

Goodwin

Portions of New York’s FAPA Survive Constitutional Challenges

Goodwin on

Over the last four months, New York’s Appellate Division has finally begun to address constitutional challenges to the state’s Foreclosure Abuse Prevention Act (FAPA), an act that became effective in December 2022 and...more

Cadwalader, Wickersham & Taft LLP

All Along the Watchtower: Awaiting the Ruling on FAPA’s Retroactive Reach

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In a recent case, E. Fork Funding LLC v. U.S. Bank, Nat’l Ass’n, the United States Court of Appeals for the Second Circuit has certified a novel question for the New York Court of Appeals ("NYCOA"): Whether Sections 4 and/or...more

Hinshaw & Culbertson - Consumer Crossroads

The Texas Supreme Court Has Spoken: Mortgage Servicers May Rewind and Restart the Statute of Limitations Clock Within the Same...

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Last week, the Texas Supreme Court answered the Fifth Circuit’s certified question as to whether simultaneous rescission and reacceleration can reset the limitations period under Texas Law by holding that “a rescission that...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

Troutman Pepper Locke

Arizona Court of Appeals Narrows Statute of Limitations Application

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The Arizona Court of Appeals recently clarified how the state’s debt collection statute of limitations applies to debt created by a land sale contract. Arizona has a six-year statute of limitations to enforce installment...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

BCLP

NY Court of Appeals on the Foreclosure Statute of Limitations

BCLP on

The New York Court of Appeals’ decision last week, Freedom Mortgage Corp v. Engel, contains two “reliable and objective rules permitting consistent application of the statute of limitations.” What are those rules?  ...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...

Blank Rome LLP on

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

Hinshaw & Culbertson - Consumer Crossroads

Second Circuit Finds HUD Assignees Immune from State Statute of Limitations Claims

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The mortgage foreclosure world continues to experience change at a moment's notice. Lenders continue to defend against borrower actions seeking to discharge their mortgages as time-barred, which in turn has led to the...more

Troutman Pepper Locke

New York Court of Appeals Appears Ready to Decide Whether Discontinuance of a ‎Foreclosure Action Can De-Accelerate a Loan and...

Troutman Pepper Locke on

While New York courts continue to hear cases involving defaulted loan obligations stemming from the 2008 financial crisis, on January 5, 2021, the New York Court of Appeals heard arguments on four related cases involving New...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

McGlinchey Stafford

Am I a party entitled to enforce a promissory note?

McGlinchey Stafford on

Shareholder Derivative Lawsuit Aungst v. Light, 9th Dist. Summit No. 29349, 2020-Ohio-3347 In this appeal, the Ninth Appellate District affirmed the trial court’s decision, finding that when a shareholder’s derivative...more

Seyfarth Shaw LLP

FHFA and GSEs Issue Guidance on Assistance to Renters and Borrowers Impacted by COVID-19

Seyfarth Shaw LLP on

On March 24, 2020, in response to the growing anticipation that renters in multifamily properties are being negatively impacted by the implications of the Coronavirus Disease 2019 (“COVID-19”), the Federal Housing Finance...more

Akerman LLP

Foreclosure Holds Impacting Statute Of Limitations

Akerman LLP on

The COVID-19 crisis has led to foreclosure moratoriums at the regulatory, executive, and judicial level. Servicers should consider that compliance with these, regardless of level, may not protect them from later challenges to...more

Nutter McClennen & Fish LLP

Bankruptcy Court Confirms Enforceability of Mortgage Notwithstanding Expiration of Statute of Limitations for Underlying...

Nutter McClennen & Fish LLP on

In In re Fortin, 598 B.R. 689 (Bankr. D. Mass. 2019), the United States Bankruptcy Court for the District of Massachusetts considered whether a lender may enforce a mortgage despite the unenforceability of the underlying...more

Winstead PC

Texas Supreme Court Holds That Contractual Clauses That Waive The Statute Of Limitations May Be Enforceable

Winstead PC on

In Godoy v. Wells Fargo Bank, N.A., a bank sued a guarantor to recover on a deficiency following a foreclosure sale. No. 18-0071, 2019 Tex. LEXIS 443 (Tex. May 10, 2019)....more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending April 26, 2019

Carlton Fields on

Real Property Update - • Foreclosure / Reverse Mortgage / Condition Precedent: bank failed to establish that the subject property was not the principal residence of surviving co-borrower under its reverse mortgage, a...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending April 19, 2019

Carlton Fields on

Real Property Update - • Special Tax District Bond Validation: hospital center special tax district could not validate bonds intended to finance the construction of a hospital outside the geographic boundaries established...more

Blank Rome LLP

New York Appellate Court Rejects Usage of a Mortgage’s Reinstatement Provision as a Defense to the Expiration of the Statute of...

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New York’s Second Department, in rejecting the MacPherson line of cases, holds mortgage’s reinstatement provision is not a condition precedent to accelerating the debt and therefore does not prevent a lender from exercising...more

Hinshaw & Culbertson LLP

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

Hinshaw & Culbertson LLP on

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

Troutman Pepper Locke

Florida Statute of Limitations Update: Third DCA Certifies Conflict with Fifth DCA and Finds that a Foreclosure Judgment can...

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On August 1, 2018, the Third District Court of Appeal found that a foreclosure judgment can include all amounts due and owing regardless of the initial date of default. In Eduardo Gonzalez and Rosa Gonzalez v. Federal...more

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