10th Circuit: Acceleration Date Triggers Limitations Period On Foreclosure Action

Mealey's (August 11, 2019, 11:43 AM EDT) -- DENVER — A federal judge in Colorado’s ruling awarding summary judgment to Bank of America N.A. (BANA) in a foreclosure action was affirmed July 31 by a 10th Circuit U.S. Court of Appeals panel that overruled a man’s argument that the lender’s 2017 attempt to foreclose on his property was untimely because the date of acceleration of the loan triggers the statute of limitations (Troy D. Paggen v. Bank of America N.A., et al., No. 18-1390, 10th Cir., 2019 U.S. App. LEXIS 22699)....