Alabama High Court Remands Statute Of Limitations Ruling In HELOC Suit

(April 6, 2021, 2:00 PM EDT) -- MONTGOMERY, Ala. — An Alabama trial court erred in ruling that a lender’s claim seeking to recover a debt under a home equity line of credit (HELOC) is barred by the statute of limitations because the trial court erroneously determined that borrowers sufficiently showed that the lender sought to recover only pursuant to an open-account theory, a divided Alabama Supreme Court ruled April 2 in reversing and remanding....

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