6th Circuit: Statute Of Limitations Bars Judicial Foreclosure Action

Mealey's (May 19, 2023, 7:04 AM EDT) -- CINCINNATI — A federal judge in Tennessee did not err in finding that a lender’s failure to demand a final balloon payment on a home equity line of credit (HELOC) for more than 10 years after the payment became due renders later judicial foreclosure proceedings time-barred, the Sixth Circuit U.S. Court of Appeals has affirmed....