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Posts tagged "FORECLOSURE"

Housing market update for homeowners in Naples

The good news for the residential real estate market in southwest Florida is that the number of distressed properties on the market is down. Foreclosures and short sales have continued to decrease from the housing market collapse which began in 2008, according to recently released data from the first quarter of 2016.

LACHES MAY BE A DEFENSE TO YOUR FORECLOSURE

Under Florida Law, a borrower must plead the affirmative defense of laches in order to attempt to defeat a mortgagee's claim for foreclosure. Laches is as an equitable doctrine that is based upon an unreasonable delay on Plaintiff's part in asserting a known right that causes undue prejudice to the party against whom the claim is asserted.

WHAT ARE THE STATUE OF LIMITATIONS ON FORECLOSURE?

Under Florida Law, the five-year statute of limitations on foreclosure begins to run when the last payment is due unless the mortgage or promissory note contains an optional acceleration clause. When the promissory note or a mortgage contains an optional acceleration clause, the five-year statute of limitations begins to run on the date the acceleration clause is invoked.

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