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Samuel-II, Lawyer
Category: Real Estate Law
Satisfied Customers: 27011
Experience:  real estate law
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Borrower just discovered the lender have been acting fraudulently.

Customer Question

Borrower just discovered the lender have been acting fraudulently. When does the SOL starts...after discovery on when lender accelerated foreclose.
JA: The Lawyer will need to help you with this. Have you consulted a lawyer yet?
Customer: yesm but they havent responded yet.
JA: What advice did they give you?
Customer: That they added another title to the deed on which the borrower was loaned the money that they did not sale. It was owned by the borrower outright, but somehow they added it to the promissory note.
JA: Is there anything else the Lawyer should be aware of?
Customer: Yes, RICO,fraud, the borrower was found not licensed or registered with the SEC and a lot of stuff. Did not file taxes until 2012...13 years after the money was loaned.
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Lawyer about your situation and then connect you two.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Samuel-II replied 1 year ago.
HelloThis is Samuel. I will provide you information in this regard.The SOL is 4 years. And this is via case law as the RICO Act itself does not contain a statute of limitations. In Agency Holding Corp. v. Malley-Duff & Associates, Inc., 483 U.S. 143, (U.S. 1987) the court ruled the statute of limitations begins running on a RICO claim according to the “injury discovery accrual rule.” That means, the SOL will begin at the time the plaintiff knew or should have known there was fraud.

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