Insights
Joy Harmon Sperling and Karen Wilson-Robinson authored an article, "Lender Filing Foreclosure Complaint Does Not Trigger Statute of Limitations," for the New Jersey Law Journal. The article provides an analysis of a recent opinion by Bergen County Superior Court Judge Edward A. Jerejian interpreting application of the 6-year statute of limitations to acceleration of a loan through the filing of a foreclosure complaint. As the article describes, in Deutsche Bank Nat'l Trust Co. v. Hochmeyer, the defendant-borrower argued that the filing of the foreclosure complaint and acceleration of the loan also accelerated the maturity date, thereby triggering application of the 6-year statute of limitations, rather than the 20-year statute of limitations ordinarily applied where a loan has not yet reached its maturity date. The court rejected defendant's argument, finding that the 6-year statute of limitations provision cited by defendant specifically referred to the date of last payment or maturity date set forth in the mortgage, and did not apply to defendant's loan which had a maturity date of June 1, 2036.
