Prove Unlawful Foreclosure Statute Of Limitations and You Could Save Your Home From Foreclosure
Orginally posted June 22, 2018 at http://realtybiznews.com/prove-unlawful-foreclosure-statute-of-limitations-and-keep-your-home/98749036/
If a mortgage holder delays too long to bring a foreclosure action, the homeowner often may keep the foreclosure from happening — it all depends on what the state of residence says about the statute of limitations (SOL).
A statue of limits starts the clock for taking a legal action, such as beginning foreclosure action. Once the prescribed time has passed, any steps to foreclosure are illegal and home repossession cannot be carried out.
If a significant time passes between the last mortgage payment made and the point when the lender starts foreclosure action, the foreclosure could violate the statute of limitations. Once this happens the homeowner can use the lender’s tardiness, or inattention to detail, as a defense against the foreclosure proceedings.
Usually, the unlawful statute of limitations relevant to homeowners is the one for written contracts. Some states have a separate statute of limitations for foreclosures.
Each state has its limitation statute and they range from three to fifteen years, while most fall inside the three to six year scope.
The statute’s clocks starts when the default occurs, and is normally calculated from the date of the last payment. State statutes of limitation are available online and should be reviewed to determine those the limits for your state.
Stop a Foreclosure
If the lender beings proceedings after the statute of limitations has expired, the lender’s claim becomes invalid. The lender gives up any right to foreclose.
Most lenders have a backlog of delinquent loans. For many of these they have not filed foreclosure with the courts. Months or years could pass between the time the homeowner stops making payments and the foreclosure process begins. That makes it important for homeowners to know the statute of limitations for their state.
The Statue as an Affirmative Defense
This means it is up to the homeowner to raise the issue. If the homeowner doesn’t, the defense is waived and the lender may continue with foreclosure proceedings.
If the SOL runs out during foreclosure, then the statute is not a defense. Even if a foreclosure eats up years to complete, as often happens in New York, it is not a defense.
If the Lender Cancels the Foreclosure
A lender often cancels a foreclosure if they find a procedural error, and refiles the case. If that happens, the homeowner can still use the unlawful foreclosure statute of limitations defense. If the lender goes ahead and begins the case anew, the lender is required to stick to the time period provided by that state’s laws.
Prove Wrongful Foreclosure
If a homeowner waits too long to preserve their home under the SOL provisions, they can still fight foreclosure by proving wrongful foreclosure.
When the debtor can show evidence the lender has failed to work in good faith, the homeowner can:
1.Seek to have the foreclosure dismissed, or
2.Sue the lender for damages
In these type claims, the plaintiff will still have to prove their case. To win compensation, the debtor must prove:
- A legal debt was owed to the debtor by the lender,
- The duty was violated in some way,
- That the break of duty gave rise to damages, and
- What those were
Facing a foreclosure? Seek out guidance from a qualified real estate litigation lawyer immediately.
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://www.fraudstoppers.org/members-only/