In an exclusive interview, Roy Oppenheim, real estate defense attorney explains the complicated issues surrounding the 5-year-statute-of-limitations in foreclosure cases; for many, a housing dilemma that has become the focus of the entire country.
More than five years after Florida courts were inundated with foreclosure cases, some of those sued have found a way to stay in their homes without paying their mortgages, thanks to a law called the statute of limitations.
Some Florida courts have ruled lenders cannot bring foreclosures if certain criteria are met: the lender must have already filed for foreclosure, demanded payment of all the money borrowed, and lost its foreclosure case. Then, if it failed to file another action within five years of the first lawsuit, the lender can no longer foreclose and evict the residents, some courts have ruled. Continue reading