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Was just served papers for a 2nd mortgage I had foreclosed on over 7 years ago in Washington State. Are they reaching or ?

It's a lawsuit saying I hadn't cured the default so the loan was accelerated and is still due and owing. I thought there was a statue of limitations of 6 years. Thanks. by livinginsequim510 from Sequim, Washington. Nov 8th 2017 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Much more info needed to answer your question... Understand that I am not an attorney. My response is provided for informational purposes only and does not constitute legal advice. I suggest you contact a local attorney and let him look at your complete scenario.. But in general.. the laws vary depending on whether or not this was your primary residence, 2nd home, or investment.. the laws also vary depending on WHEN the 2nd was taken out.. was it used to purchase the home? It would be called a "Purchased Money 2nd".. if it was taken out after the purchase, then it's a true 2nd lien position and different rules apply. Since WA is a "Anti-Deficiency" state, then if it was a Purchased Money 2nd, then it's possible they cannot collect from you. Also, there are different laws and different statues of limitations.. some are 1 year, some 3, and some 6.. But remember, the timeline starts when the home was taken out of your name.. not when the foreclosure action was initiated. Also, laws are different if they did a "non-judicial" foreclosure vs. you going to court.. Understand that you can be sued for anything, whether or not there's just cause or frivolous. Again, too much info missing to properly advise you.. but spend a hour or so with a local RE attorney, and all your questions will be answered.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Nov 9th 2017
Dave Skow (daveskow)
#16 ranked lender in Washington - 282 contributions

Echoing advice below .....get a real estate attorney or maybe the attorney that assisted with your foreclosure ( if you had one ) to get involved

Nov 9th 2017
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