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What is the statue of limitaion in washington state regarding no payments on promissary note deed of trust?

Seattle, WA |

have not made a mortgage payment in 62 months chase bank has tried to foreclose many times but never followed thru property still in our name what happens now isnt there a law in washington state or statue of limitation that we can file a release of interest from chase since its been so many years without a payment only one mortgage on property?? please help thanks

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Attorney answers 1

Posted

The statute of limitations for breach of a written agreement in Washington is 6 years.

Asker

Posted

Thanks for the prompt response. So when does that date start..from the last time we made a payment for from the last time the loan was in default? Is it possible to do a breach in contract with a mortgage company like Chase bank?

Michael Duane Daudt

Michael Duane Daudt

Posted

The six years would run from the time that you "breached," so when you failed to make a timely payment without legal excuse. You can absolutely be in breach of contract with a mortgage lender.

Asker

Posted

These are the date that i have proof of or receipts are 05/19/2005 2000.00 09/08/2005 1000.00 10/17/2005 460.00 11/10/2005 2561.10 12/07/2005 2561.10 01/12/2006 2561.10 03/10/2006 2561.10 01/15/2008 5823.12 02/04/2008 2918.02 Oh my goodness could it be possible

Asker

Posted

If we are in breach of contract what would be the next step and what would that mean?

Michael Duane Daudt

Michael Duane Daudt

Posted

If you haven't made a payment since 2008, you are definitely in breach of the promissory note. I'm not sure what you are asking about the next step. Chase can still come after you for payment and foreclose on the property.

Asker

Posted

So if we are in breach of that promissory note is there a law that we can sue chase to release interest on that title to our home or something like that since they still have it in our name and they were suppose to foreclose it many years ago?

Asker

Posted

An attorney friend told us that we could possibley file a breach of contract if 6 years had passed with no payments and we could file a lawsuit to get our home free and clear. Is there such a thing like that?

Michael Duane Daudt

Michael Duane Daudt

Posted

While that may be possible, six years have not passed since your last payment. It has only been a little over five years, based on the list you included above.

Asker

Posted

If we can hold off chase from not foreclosing it is a possiblitlity then?

Asker

Posted

or if Chase keeps trying to foreclose and im not sure why they dont follow thru and the time passes it can happen then

Asker

Posted

would we have to hire an attorney and is that something that you or someone in your lawfirm can do?

Michael Duane Daudt

Michael Duane Daudt

Posted

It may be a possibility, and we could take a look at it for you when six years have run.

Asker

Posted

Well hopefully things work out that way it just seems impossible that Chase would drop the ball and make a mistake of not taking back the property before that time. I wonder if it has ever actually happend.

Asker

Posted

I want to thank you for all your help and hopefully we can talk again in 2014 with good news thanks again.

Michael Duane Daudt

Michael Duane Daudt

Posted

I would think that Chase will foreclose before that happens, but I guess you never know until the time comes. Good luck!

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