[WSBARP] SOL Calculation for Foreclosure Action

[Robert Ordal]

Oscar,

I have not looked at this carefully for some time.  However, Westar says it is six years from when the note was due.  Seems to me there’s probably a case out there that says the statute of limitations runs six years from the first missed payment.  Institutional loans are often not due for 30 years, but the borrower may have defaulted in year one.  I doubt a court would allow a lender would allow a lender to foreclose after six years from the first missed payment.

Bob

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Oscar Yang, Esq.
Sent: Tuesday, May 26, 2015 12:31 PM
To: WSBA Real Property Listserv
Subject: [WSBARP] SOL Calculation for Foreclosure Action

Dear Listmates:

I know in another state, there were some debates on when the SOL should start running for foreclosure actions (for example,  among the last payment date by the borrower, the acceleration payment date, the first date to fail to make a full monthly payment, etc).   What date does WA use to calculate the SOL of a foreclosure action?  Many foreclosure actions that I have seen are well within the SOL period, but I still want to calculate it correctly.  I apologize if this question sounds too basic.

Kind regards,
Oscar Yang
Managing Attorney
ES BERRY LAW PC

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