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Alex Esquire
Alex Esquire, Attorney at Law
Category: Real Estate Law
Satisfied Customers: 16475
Experience:  Experienced Licensed Attorney / Real Estate Law Mentor
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Is there a statute of limitations for actions for non

Customer Question

Is there a statute of limitations for actions for non payment of a mortgage?
Submitted: 3 months ago.
Category: Real Estate Law
Expert:  Alex Esquire replied 3 months ago.

Hello. My name is Alex.
Thank you for your question.
I will be happy to provide you with information you are seeking for educational purposes only.

Are you asking whether there is a statute of limitations within which the mortgage lender can file for foreclosure in Florida?

Please clarify.

Customer: replied 3 months ago.
Expert:  Alex Esquire replied 3 months ago.

Thank you for your follow up.

Unfortunately, there is not statute of limitations when it comes to the mortgage lender pursuing foreclosure action on the property that is secured by the mortgage, however, there is 5 year statute of limitations when it comes to deficiency judgment, which is the amount of difference between the proceeds the foreclosed property is sold for and any amount owed to the mortgage company by the borrower.

I am very sorry to provide you with this bad news, but please understand that I do have professional obligation to provide JustAnswer.com customers with correct answers, even when answer is not favorable to the customer.

I wish you the best of luck and good luck!

Expert:  Alex Esquire replied 3 months ago.
Expert:  Alex Esquire replied 3 months ago.
Expert:  Alex Esquire replied 3 months ago.