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Fazzio Law Offices

Foreclosure Statute of Limitations -- How Will Judges React?

In In re Washington, Judge Kaplan of the United States District Bankruptcy Court held that:

  1. The Statute of Limitations for a Foreclosure Proceeding is 6 years;
  2. The statute commences at the time the bank declares the homeowner in default and accelerates the indebtedness;
  3. If the bank unreasonably delays in enforcing its right to foreclose and the statute of limitations expires, the bank can no longer enforce its security interest against the property; and
  4. In such a case, the homeowner retains its property free from the mortgage.


As of yet, it is unclear how state court judges will interpret and apply In re Washington, and whether they will follow its reasoning or instead craft another form of remedy.

Please give us a call today at (201) 529-8024 to review your legal rights if you think the bank has unreasonably delayed in foreclosing on your property.