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Attorney2020, Attorney
Category: Bankruptcy Law
Satisfied Customers: 2578
Experience:  I am a practicing attorney. I have experience in business law, real estate law, bankruptcy and estates.
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When did the clock start ticking on mortgage foreclosure in

Customer Question

When did the clock start ticking on mortgage foreclosure in FL? Can the Bank de-accelerate the mortgage in June, Year 7 (claiming $215k now due) after Federal Court already used accelerated $560k amount which they agreed to during Chapter 7 process?
Bank accelerated mortgage when I defaulted (stop paying January, year 1) in May, year 1 when bank filed suit in Florida? In April, Year 4, I filed for Chapter 7 which was granted and bank agreed…amount was $560K. Bank still had to continue with foreclosure in FL to get property. Case continued after 6 mth delay while Chapter 7 in process and then case continued in December, Year 4.
Multiple fraud charges that I was bringing and jury trial eventually forced the Bank to get case dismissed without prejudice in December, Year 5.
Florida Supreme court deciding 5 year statue of limitations now (if they decide in favor of banks major supreme constitutional fight at best…revolution on streets at worst…statute is perfectly clear in FL law).
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  Attorney2020 replied 2 years ago.
No Florida decision has directly addressed the question of whether the voluntary dismissal of a foreclosure action reverses an acceleration and unwinds an expired limitations period if measured from the filing date of the initial foreclosure action. However, there are shades of the deceleration principle in Olympia Mortg. Corp. v. Pugh, 774 So. 2d 863 (Fla. 4th DCA 2000), and Kaan v. Wells Fargo Bank, N.A., 2013 WL(###) ###-####at *2 (S.D. Fla. 2013). But the clock begins once the bank is entitled to pursue the foreclosure action. In this case, the bank did ruse such action but and dismissed the case. The bank will try to argue the statue has been tolled pending the litigation, but like you said the FL statute of limitations is clear. Ultimately the decision will be left up to the Judge but your statute of limitations argument is strong. I hope that helped. Please ask any follow-up questions. Please rate my answer so that I may be credited for my time. Thank you.