Florida Statute of Limitations for Mortgage Debt


I have a single family residential house in Florida that is an investment property. It has only one mortgage, which is a home equity line of credit with a balance of about $65,000.

The lender (a LARGE bank) has not sent a statement for more than five (5) years. This is a default on the loan agreement which states that a statement will be sent each month when there is a balance greater than $1.00. Additionally, the statute of limitations for a written contract is five (5) years in Florida.

There is no legal action at this time and none has ever been started. I HAVE NOT made a payment in over sixty (60) months. I’m looking at these facts: 1. Lender has violated terms of agreement/contract 2. Lender has defaulted over sixty (60) times (each month not sending a statement is a default as I read the related statutes) 3. Lender has exceeded the allot time period (five years for a written contract) to ask for payment of any kind.

Do I have a legal basis to demand a release of lien and satisfaction of mortgage? If so, how do I provide proof that no statement has been sent in over five (5) years?

Your comments are appreciated. Thanks!


Check FL law, the statute may be 6 on loans or “consumer” debt. Even still, you won’t get a satisfaction, but you’ll have to be able to prove to a title company when selling that the lien is invalid - GOOD LUCK!

Unless it’s been discharged in bankruptcy, they will require a court order from a quiet title action. Cost you a few grand in attorney fees if they (lender) don’t object.


Florida statute

Florida’s statute for written contracts is five (5) years. That’s what would apply in the case of loans or consumer debt since there is a written contract. That is the longest time length besides judgments which are 20 years.