Florida Supreme Court decision will cause ‘new wave’ of foreclosures

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Florida Supreme Court decision will cause ‘new wave’ of foreclosures

Florida Supreme Court decision will cause ‘new wave’ of foreclosures

Florida Politics-

When a mortgage foreclosure action gets dismissed by a Florida court, it resets the clock on the state’s five-year statute of limitations, the Supreme Court decided Thursday.

That means the lender can try again to get paid, as long as it’s within the next five-year period and the borrower had started paying again and then stopped.

“I think this decision will cause a new wave of foreclosure cases to be filed in the next 12-24 months,” said Jonathan Kline, a Westin attorney who practices primarily in foreclosure defense. “Basically, banks are getting a do-over.”

[FLORIDA POLITICS]

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