If the lender cannot foreclose because they are passed the 5 year limitation. Does this extinguish the mortgage lien?

Asked 10 months ago - Fort Myers, FL

The mortgage follows the note. So, if they can't enforce the note, can I get rid of the mortgage lien?

Attorney answers (2)

  1. Richard Paul Zaretsky

    Pro

    Contributor Level 14

    2

    Lawyers agree

    1

    Best Answer
    chosen by asker

    Answered . A quiet title action to address a promissory note that secures a mortgage can be a viable way to eliminate the mortgage lien if there are certain prerequisite facts that are on their face ascertainable - but each situation must be looked at individually. The most important fact to be evident on its face is that the debt matured more than 5 years from the present day. What makes a debt mature (or be in declared default) is a matter of considerable debate.

    See my article on this subject at the link below.
    And contact an attorney willing to examine your facts and see if a legitimate quiet title action based upon a statute of limitations argument is viable in your case.

    I hope you found this response to be helpful. If so, please click on the button "helpful" and/or "best answer" as... more
  2. Margery Ellen Golant

    Pro

    Contributor Level 20

    4

    Lawyers agree

    Answered . The expiration of the limitations period does not eliminate the lien of the mortgage. If the collectibility really is time barred (which will depend on all the details of the situation), it might be possible to remove the mortgage lien via an Action to Quiet Title.

    However, before you take any action, you need to be sure that the debt really is time-barred, as there is a tremendous amount of misunderstanding about how this works, and if you file the wrong thing or file too soon, you could be opening a huge can of worms. There are also lots of "action to quiet title" scams out there, so please be careful to consult an attorney who is really knowledgable and legitimate.

    Please note that the above is not intended as legal advice, it is for educational purposes only. No attorney-... more

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

24,869 answers this week

2,901 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

24,869 answers this week

2,901 attorneys answering