Fla. Justices Say Each Default Resets Foreclosure Suit Clock

Law360, Miami (November 3, 2016, 11:45 AM EDT) -- The Florida Supreme Court ruled Thursday that each monthly default on a mortgage loan payment resets the five-year statute of limitations for filing a foreclosure suit, affirming a lower court's decision in a closely watched case and reinstating litigation over a home in Ponte Vedra.

The court affirmed a Fifth District Court of Appeals ruling that the statute of limitations was reset each time Lewis Bartram failed to make a payment to U.S. Bank NA on the $650,000 mortgage he shared with his ex-wife. Following their divorce, he allegedly stopped making payments to the bank or to his ex-wife.

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