Statute of Limitations for Strict Foreclosure
The running of the statute of limitations is assuredly a major and continuing problem for mortgage holders—typically encountered not surprisingly in the mortgage foreclosure action itself. That danger is exacerbated by the foreclosure abuse prevention act which denies to a foreclosing party the right to unilaterally withdraw an acceleration or cancel it by discontinuing the action. But the concept is not confined solely to that arena. Rather, it can apply to what might be seen as peripheral pursuits, for example, the strict foreclosure.
May 24, 2023 at 10:00 AM
4 minute read
The running of the statute of limitations is assuredly a major and continuing problem for mortgage holders—typically encountered not surprisingly in the mortgage foreclosure action itself.
That danger is exacerbated by the foreclosure abuse prevention act which denies to a foreclosing party the right to unilaterally withdraw an acceleration or cancel it by discontinuing the action.
But the concept is not confined solely to that arena. Rather, it can apply to what might be seen as peripheral pursuits, for example, the strict foreclosure.
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