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Updated over 8 years ago on .

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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23,418
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Florida Supreme Court finally rules/affirms on 5 year SOL

Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Posted

The FL Supreme Court finally ruled on this.  If the foreclosure is dismissed, involuntarily, after 5 years.....it matters not, therefore bank can still refile foreclosure, which has been the general consensus of reasonable people all along, since a new "default occurs every month there is no payment".  It didn't address "voluntary dismissals" since that was not the case before it, but from the language it seems to be a foregone conclusion.  So, those touting picking up properties where the underlying mtg was supposedly"5 yearned out" and enforceable, are all SOL, of a different kind.