Mortgagees and their servicers should take note that a New York appellate court has confirmed that a default letter, stating the mortgage debt “will be accelerated” if the default is not cured, does not clearly and...more
Action Item: New York’s Appellate Division, Second Department, affirms that dismissal under Civil Practice Law and Rules (“CPLR”) 3215(c) does not constitute neglect to prosecute and therefore a plaintiff may avail itself of...more
Action Item: To avoid possible state law claims related to denial of loan modifications, trial modification offers should clearly define the requirements a borrower must fulfill to receive a loan modification, and lenders and...more
As a result of the recent changes in New Jersey law, mortgagees and servicers should review their practices and procedures to ensure timely response to notices of municipal code violations on abandoned or vacant properties in...more