QUESTION
I have received a summons for a non payment of a second mortgage taken in 2005. in FL . What do I do?
Asked on Oct 01st, 2018 on Collections - Florida
More details to this question:
I first signed the 2nd mortgage with GMAC Bank in Dec 2005 for $31k. The mortgage was sold at some point to GMAC then later I was laid off from 2 jobs in 2008 and 2009 and they refused to help me out with reducing payments or giving me time. The loan has gone through several hands at this point and now I've received a summons. Wondering what do do next, though I was under the impression that the FL Statute on this type of loan is past.
1 ANSWER
Commercial Litigation Attorney serving St. Petersburg, FL
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Law Office of Guy P. Coburn
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It is difficult to give you recommendations without seeing the paperwork, but I will do what I can. The statute of Limitations in Florida is usually 5 years on a written instrument, but a recent Florida Supreme Court case considered each payment on a mortgage to effectively have its own limitations period. In effect, there's a good chance that you may not owe any payments which were due more than 5 years before suit was filed, but you likely owe the rest. It may be a complex calculation to figure out what is owed.If possible, you should hire an attorney to represent you. If you can't afford an attorney, then you should send in a written Answer to the Complaint, responding to each numbered paragraph. You should also include, as an "affirmative defense" that some or all of the debt is exc;uded by the Statute of Limitations.
Answered on Oct 01st, 2018 at 9:42 PM