Mortgage Loan Servicers Tricking Homeowners into Renewing Statue of Limitations on Mortgage Debts to Illegal Foreclose on Homes
Collection Letters Can Renew Statute of Limitations
by Neil Garfield
The courts had previously protected borrowers as much as possible. Now there is a distinct trend in which even claims barred by SOL can be renewed and energized.
For homeowners facing foreclosure they may be waiving a very powerful defense: statute of limitations.
They are being lured into waiving such defense by solicitations to engage in in some payment plan in which the homeowner acknowledges the debt. This case, approved by 9th Circuit court of Appeals, affirms that holding thus permitting creditors to trick borrowers into renewing claims that didn’t exist in the first place.
The moral of the story is that you should not even respond to such solicitations without consulting an attorney who understands the issues.
Read Stimpson v. Midland Credit Mgmt., Inc., 347 F. Supp. 3d 538 (D. Idaho 2018)
So the moral of the story is that the now conservative courts say that even if the statute of limitations has run, a servicer or collection company can offer you a payment plan on the debt. By acknowledging the debt and/or by paying on the debt, you are probably renewing the statute of limitations and removing it as a defense to enforcement.
So the banks are sending solicitations for you to pay off debts that are barred, in whole or in part, by the statute of limitations. If you engage with them, you are probably waiving the defense of the statute of limitations.
So before responding to any service or other debt collector make sure that the statute of limitations has not already run. If it has, an appropriate response would be to tell them that the SOL has run and please don’t contact you again about the debt (if the entire amount is barred by SOL) or to limit their correspondence to claims not barred by SOL.
Join FRAUD STOPPERS right now
Stop letting your mortgage lender or mortgage servicer lie to you and take advantage of you. Join FRAUD STOPPERS right now and get the facts & evidence you need to sue them for mortgage fraud and foreclosure fraud.
For information on foreclosure defense call us at 800-459-1215. We offer litigation support, admissible evidence, expert witness testimony, education, training, and support in all 50 states to attorneys and pro se homeowners.
If you or anyone you know is facing foreclosure, or has already lost a property to foreclosure, and want to sue for mortgage fraud, foreclosure fraud, wrongful foreclosure, or quiet title to your home FRAUD STOPPERS PMA can help you save time and money and increase your odds of success getting the legal remedy that you deserve. If you have received a Notice of Default (NOD) or a Foreclosure Notice (Foreclosure Complaint) and you want to know how to respond to the Notice of Default (NOD) or a Foreclosure Notice (Foreclosure Complaint) join FRAUD STOPPERS PMA today because FRAUD STOPPERS has a proven system to help you fight to save your home from foreclosure and sue for mortgage fraud. FRAUD STOPPERS turnkey Quiet Title Lawsuit package or Wrongful Foreclosure Lawsuit package includes a court ready complaint (petition for damages), Bloomberg Securitization Audit, Expert Witness Affidavit, Application for Temporary Restraining Order (to stop a foreclosure sale or stop an eviction), Lis Pendens (to cloud the marketability of the title to the real property), and Pro Se legal education material that can show you how to win a Quiet Title Lawsuit or win a Wrongful Foreclosure Lawsuit. This entire court ready Quiet Title Lawsuit Package or Wrongful Foreclosure Lawsuit Package can help you save money in legal fees and help you increase your odds of success. Join FRAUD STOPPERS PMA today and get mortgage fraud analysis and the facts and evidence you need to get the legal remedy you deserve at www.fraudstopper.org/pma
FRAUD STOPPERS PMA
Feel free to connect with us . . .
Address: Birch Tree MO 65438
DISCLOSURE: NOTICE OF Copyright © 2019 FRAUD STOPPERS, FRAUD STOPPERS PMA. Disclaimer: Any information or answers are provided for informational purposes only, does not constitute legal advice, and does not create PMA-Member relationship. THIS SITE IS NOT INTENDED TO BE MISCONSTRUED AS LEGAL ADVICE. Legal Information is NOT Legal Advice: This site provides “information” that is only designed to help users safely cope with their own general legal needs. Legal information is NOT the same as legal advice — the application of law to an individual’s specific circumstances. FRAUD STOPPERS is a National Private Members Association (PMA). PLEASE TAKE NOTICE OF THE FOLLOWING MARS Disclosure[s] 12 C.F.R. 1015.: (1) FRAUD STOPPERS PMA is NOT Affiliated with any Government Agency or Any Bank Lender; (2) Even if YOU Accept any of FRAUD STOPPERS PMA Products or Services Your Lender May Choose to NOT Change Your Loan. FRAUD STOPPERS products and services are only available to Active Members of the FRAUD STOPPERS PRIVATE MEMBERS ASSOCIATION. To join FRAUD STOPPERS PMA click here: https://fraudstoppers.org/members-only/