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102717judge-and-gavel

A state appellate court has ruled lenders can sue to foreclose more than five years after the first missed payment, but they can’t collect damages for defaults falling outside the window provided in the statute of limitations.

The Jan. 12 decision in Velden v. Nationstar Mortgage came from Florida’s Fifth District Court of Appeal, but has statewide implications on which foreclosures can survive defense motions to dismiss, and how much plaintiffs can collect if they miss the statute of limitations deadline. It’s significant in a state where hundreds of thousands of foreclosures clogged court dockets after the last real estate market collapse.

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Samantha Joseph

Samantha Joseph is co-head of the Litigation Desk in ALM's global newsroom. Grad school: Newhouse Syracuse. Contact: [email protected] On Twitter: @SjosephWriter

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