Once acceleration has occured and demand for payment in full had been made..... and 5 years has passed......does each subsequent payment missed after the 5 year statute of limitations has passed constitute a new cause of action? It would seem that once payment in full has been demanded...that would include all past and future payments....the lender would then have 5 years to begin a successful foreclosure action. Someone brought up the possibility that each new payment missed after written demand for payment and 5 years had passed could be a new cause of action. That doesn't make sense to me. If that was the case why even have a statute of limitations that begins on the first written demand of payment?