News & Analysis as of August 9, 2025

New York

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Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -

Rates Stay Steady, Markets Are Steaming— Hot Fun in the Summertime, July 2025 - Integrated Amplifier: No-Appointment of a Receiver...

Cadwalader, Wickersham & Taft LLP on 8/1/2025

In a recent decision in New York County Supreme Court, the Court granted the plaintiff lender’s pre-summary judgment motion to appoint a receiver in a mortgage foreclosure action, even though the defendants (borrower)...more

Firmly Fixated With Allonges - REF News & Views

Cadwalader, Wickersham & Taft LLP on 4/30/2025

In a recent decision by the Supreme Court of the State of New York in Kings County (the Court), HSBC Bank USA, N.A. (the Plaintiff) initiated a mortgage foreclosure action against Jack and Sabah Srugo (collectively, the...more

RPAPL 1501(4) and the Mortgagee in Possession Doctrine

Freiberger Haber LLP on 4/14/2025

Today’s article addresses a property owner’s right to cancel a recorded mortgage pursuant to RPAPL 1501(4)[1] and whether a mortgagee is “is entitled to recover sums expended to preserve and maintain an allegedly abandoned...more

Foreclosure Process Clarification: No Pre-Foreclosure Notice Required to be Served on Appointed Estate Fiduciary for Deceased...

Falcon Rappaport & Berkman LLP on 4/8/2025

In a significant legal victory for lenders, the Supreme Court of New York recently ruled in favor of our lender client in a residential foreclosure action against the estate of its borrower. This decision confirms that...more

New York Insurance Coverage Law Update - March 27, 2024

Rivkin Radler LLP on 3/28/2024

Plaintiff loaned money to his employee to purchase a home, and the loan was secured by a mortgage. When the employee failed to pay the loan and to insure the home, Plaintiff obtained a landlord package policy from Erie and...more

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