The Supreme Court of Florida today issued its long-awaited ruling in Bartram v. U.S. Bank, involving when Florida’s five-year mortgage foreclosure statute of limitations is triggered. The Court held that: “[W]ith each subsequent default, the statute of limitations runs from the date of each new default providing the mortgagee the right, but not the obligation, to accelerate all sums then due under the note and mortgage.” A mortgagee is “not precluded by the statute of limitations from filing a subsequent foreclosure action based on payment defaults occurring subsequent to the dismissal of the first foreclosure action, as long as the…
Posts published in November 2016
The U.S. Court of Appeals for the Seventh Circuit recently held that a mortgage loan servicer violated the federal Real Estate Settlement Procedures Act, 12 U.S.C. § 2601, et seq., by failing to properly respond to the borrowers’ request for information, but because the borrowers failed to provide evidence of damages stemming from the violation, the servicer was entitled to summary judgment. In so ruling, the Court held that the borrowers sufficiently alleged a concrete injury in fact that was fairly traceable to the servicer’s alleged violation of RESPA in order to have standing under Spokeo, but that “[w]hether the allegations…