Picture of a 2 story home

The statute of limitations for a foreclosure action is six years. This six year statute of limitations period begins to run from the date the entire mortgage balance is accelerated and called due by the financial institution. Once the lender has accelerated the mortgage, If the homeowner makes a payment, it will not restart a new six year period for the statute of limitations to expire.


Homeowners often believe that banks are very efficient and very accurate with regard to their paperwork. However, this is not necessarily true. Mortgages and notes are freely transferred from banks to other financial institutions. There are sometimes numerous delays, the misplacement of documents and/or the bank simply fails to act to collect on its mortgages. Therefore, the issue as to whether six years has passed since the acceleration of the mortgage is an issue that should be looked into with regard to defending foreclosure lawsuits.


Homeowners often come to our office and say, “well this lawsuit was brought in 2010 and now it’s 2016, and therefore the statute of limitations has expired.” This is not correct. The statute of limitations start from the period the mortgage accelerated and ends when the lawsuit is initiated. Therefore, even if a lawsuit was stated in 2010 and it lingered on for six years there would be no statute of limitations defense. If that lawsuit is dismissed, would the statute of limitations then have expired? The answer to that is both yes and no. Although the statute of limitations in that example would have expired, the bank would be given an additional 60-day grace period to start a second lawsuit to foreclosing on the home.


NY Foreclosure Defense Attorney Elliot Schlissel

The statute of limitations is a viable defense to foreclosure lawsuits and should be plead in the homeowner’s answer in the appropriate circumstances to effectuate this defense.

Elliot S. Schlissel, Esq. Is a foreclosure lawyer representing the homeowners throughout the metropolitan New York area.

Foreclosure Defense in Valley Stream, Lynbrook, Baldwin, Malverne, Freeport, Oceanside, Long Beach, Elmont, Lakeview, West Hempstead, Hempstead, Merrick and Bellmore, New York

We represent individuals throughout the New York Metropolitan area with divorce and child custody, personal injury, car accident, wrongful death, estate administration, nursing home and medicaid issues

The information you obtain at this website is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your particular legal issue. This is attorney advertising.

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