U.S. Bank sent notices of acceleration, and began foreclosure proceedings, several times before suing for judicial foreclosure. The borrowers contended that suit was time-barred. The Fifth Circuit disagreed, finding that the bank’s second notice “unequivocally manifested an intent to abandon the previous acceleration and provided the [borrowers] with an opportunity to avoid foreclosure if they cured their arrearage. As a result, the statute of limitations period under [Tex. Civ. Prac. & Rem. Code] § 16.035(a) ceased to run at that point and a new limitations period did not begin to accrue until [they] defaulted again and U.S. Bank exercised its right to accelerate thereafter.” Boren v. U.S. Nat’l Bank Ass’n. No. 14-20718 (Oct. 26, 2015).
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