Q: Can I raise the defense of statute of limitation in a foreclosure at the cusp of final judgement?
My bank filed foreclosure against my property in 2013. Then, the statute of limitation has ran on the foreclosure. Unfortunately, I did not use that as defense in my answer as I did not know about it. The bank brought a motion for summary judgement which was granted by the court. The bank is yet to file for final judgement. The foreclosure was dismissed for lack of prosecution. Now the bank wants to reinstate it via motion for reinstatement. Can I use the statute of limitation to oppose the motion? If the motion is eventually granted, is there anything I can do to stop the foreclosure by using the statute of limitation prior to the bank filing for final judgement or is it too late already?
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A: You cannot use a statue of limitations defense. If the bank's motion is successful, the foreclosure action will be reinstated right where it was left off. There are other ways to stop a foreclosure. But every person's case and financial circumstances are unique, so you need to retain experienced mortgage foreclosure counsel, who also is knowledgeable about bankruptcy. Good luck.
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