An action to foreclose a mortgage is subject to a six-year statute of limitations, pursuant to CPLR 213[4]. Once a mortgage debt is accelerated, the entire amount is due and the Statute of Limitations begins to run on the entire debt. The filing of a verified foreclosure complaint may evince an election to accelerate. Lenders may revoke the acceleration of the full mortgage loan balance, so long as the revocation is accomplished by an affirmative act occurring within six years of the earlier acceleration.
Abadin v. HSBC Bank USA, N.A., NY Slip Op 04095 (2d Dep't August 2, 2023)
