Foreclosure Strategies
May 10 2018
The best way to deal with a foreclosure is to take aggressive legal action when the foreclosure laws... [Read More...]
June 7, 2019 By
In 2017, 10 years after the original lawsuit had been started, the plaintiff brought a second foreclosure lawsuit against Rokoetz. Rokoetz moved for dismissal of the foreclosure lawsuit claiming the action was barred by the 6 year statute of limitations. Counsel for the financial institution claimed CS First Boston lacked standing to commence the 2005 foreclosure lawsuit as the mortgage was not assigned to it until after the commencement of the lawsuit. They therefore claimed they lacked authority to accelerate the loan. They claimed the loan was never properly accelerated until the plaintiff did so in the 2017 lawsuit.
Justice Mayer found that the CP Boston’s claims were not valid. He ruled that CS First Boston’s 2005 complaint constituted an acceleration of the loan and the 2007 agreement did not constitute an unequivocal affirmative notice to Rokoetz that the acceleration had been revoked. Justice Mayer ruled Rokoetz had established the lawsuit was commenced outside the 6 year statute of limitations and was therefore untimely and needed to be dismissed.