Statute of Limitations treated differently for Florida Reverse and Traditional Mortgages


Livinglies's Weblog

Statute Of Limitations Defense In Florida Foreclosures Not Quite Dead Yet? Trial Court Rules In Favor Of Deceased Borrower’s Daughter Against Bankster As Trial Court Notes Distinction Between Reverse Mortgage & Traditional Mortgage

http://consumerfsblog.com/

From a post at The Consumer Financial Services Blog:
  • The Circuit Court of the Eleventh Judicial Circuit in and for Miami-Dade County, Florida recently dismissed a second foreclosure complaint, filed more than five years after the initial complaint and alleging the same incident of default, as barred by the statute of limitations.

    In so ruling, the Court also held that the borrower’s daughter and sole beneficiary to the property encumbered by a reverse mortgage had standing to assert the statute of limitations defense.

    In October 2007, a borrower entered into a “home equity conversion mortgage,” commonly known as a “reverse mortgage.” After the borrower died in May 2008, 100 percent of her…

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About Here and Now

I rant about issues concerning foreclosure, real estate law and any topic of interest. Normally my day job is Fashion and Costume Design. I like writing and reading interesting subjects.
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