The hardest hit areas of the country are rebounding fast with value, but that does not change the fact that the major lenders have lots of mortgages and notes out there that are still not getting paid on. and now many of those old foreclosure cases are hitting the 5-year statute of limitations for being able to foreclose against a non.
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"It’s becoming a more common way to get out from under these cases," Linda Tirelli, a lawyer in White Plains who represents home owners facing foreclosure, told The New York Times. Source: "Foreclosure to Home Free, as 5-Year Clock Expires," The New York Times (March 29, 2015)
Miami Resident Receives Home -Free – Foreclosure to Home Free, as 5-Year clock expires. march 30, 2015. Why small business means Big Business for Facebook Inc. March 26, 2015. Foreclosure to Home Free, as 5-Year Clock Expires. March 30, 2015. Why Small Business Means Big Business for Facebook.
"I understand they don’t like the idea that people can end up with free houses but this undermines and defies the purpose of a statute of limitations," said foreclosure defense attorney Roy Oppenheim, who is fighting a high-profile foreclosure deadline case in Boca Raton in which homeowners stand to win a multimillion-dollar waterfront mansion.
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