In New York State, the statute limitations for a mortgage foreclosure action is six years from the date of default. That means, if after six years, the bank has either not commenced a foreclosure action or recommenced a foreclosure action after a prior dismissal, they may not be able to commence a new claim.
If some of your debt comes from a past due mortgage that has been in default for over six years, you may want to consider a quiet title action. Quiet Title actions, pursuant to Article 15, can, in some instances, remove the mortgage lien from the property. That means, you could, potentially, keep your house and owe much less on it. If you have a property that has either been in foreclosure for many years or has had a foreclosure case dismissed, contact one of our attorneys to discuss a possible quiet title action. It could help you save your home.