Oops! SLS Misses New Jersey’s Six Year Statute of Limitations
Morris County Judge Michael B. Kaplan stated in his ruling against the servicer:
The debtor retains the property, free of any claim of the defendants…The court will proceed to gargle in an effort to remove the lingering bad taste.
Gordon Washington won a challenge against creditors Specialized Loan Servicing LLC and Bank of New York Mellon on November 5th. Washington argued that as a result both parties failed to file a viable foreclosure complaint within New Jersey’s six-year statute of limitations.
Judge Michael B. Kaplan repeatedly expressed his reluctance to nullify the mortgage agreement. Yet, he stated SLS and Bank of New York-Mellon also gave him no other alternative.