gavel 01Court clears way for renewed foreclosure efforts

 

This is a floridabar.org article.

By Gary Blankenship

 

Lenders who have had a foreclosure suit dismissed can bring new action if the borrower continues to default after the dismissal and the case is brought within five years of a nonpayment, according to the Florida Supreme Court.

At issue in the court’s November 3 ruling was the statute of limitations provision in Florida law that stipulates mortgage foreclosure must be bought within five years of a payment default.

Lawyers handling foreclosure cases agreed the ruling may lead to a rise in foreclosure cases, following several years of declining filings.

“The Florida Supreme Court’s decision finally brings some clarity to the issue and will allow judges who have been reluctant to rule on foreclosure cases to move forward with ones that have been pending for years,” said Michele Stocker of Greenberg Traurig’s Miami office. “Now everyone knows what is and what isn’t permissible.”

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