I believe you are proceeding under a false presumption. I know of no state that simply refuses to impose its own SOL on a lawsuit originating in that state just because the contract or debt orignated in another state. So, FL refusing to use its own SOL on a lawsuit filed in a FL court is not going to happen, as far as I know. I'd consult with local counsel.
We can be reached at 507.334.0155 (Toll Free: 888.777.5009). Our web address is: www. corbin-law-office.com. Answers on Avvo are not to be considered a response to a specific legal issue in a specific jurisdiction - they are to be considered only general responses to hypothetical scenarios posed by the questioner. For specific legal advice, please consult with a licensed attorney in your jurisdiction. No information contained herein should be construed as a solicitation for business, an offer to perform legal services in any jurisdiction in which the attorneys of Corbin Law Office are not licensed, or the dissemination of legal advice. No creation of an attorney-client relationship should be assumed or implied. We are a debt relief agency. Corbin Law Office helps people file for bankruptcy relief under the bankruptcy code.
If the HELOC is attached to a property, the holder of the note/mortgage can foreclose on the property at any time. If you are concerned about being sued in court over a breach of contract, there may or may not be a statute of limitations protection. I would consult a competent local bankruptcy attorney if I were you.
The above is for informational purposes only. The offering of this information in no way presumes to create an attorney/client relationship and should in no way be construed as actual legal advice.