Still trying to dislodge the Priester 5th Circuit statute of limitations decision
The Priesters have asked the U.S. Supreme Court to take up the Fifth Circuit decision in Priester v. JP Morgan Chase Bank, N.A., 12-40032, 2013 WL 539048 (5th Cir. Feb. 13, 2013). That decision imposed a 4-year statute of limitations on Texas home equity lawsuits. I have now filed a friend-of-the-court brief with the U.S. Supreme Court explaining all the reasons why Priester got it wrong, and that there cannot be a statute of limitations on claims under Tex. Const. art. XVI sec. 50(a)(6). The brief I submitted is here. In essence, the brief argues that illegalities in home equity loans that are fundamental and existential cannot be made legal by the passage of time. A bad Section 50 loan must either be cured or forfeited at any point during its long life. The Priesters had their closing in their living room, which is flatly illegal as explained last week by the Texas Supreme Court in the Norwood decision.