Have you ever wondered if you were tricked or duped into signing a guaranty or now feel surprised by some hidden terms you didn’t know about when you signed? Well, here is the standard in New York to determine if there was any deceptive or misleading conduct that may get you off the hook:
New York’s General Obligations Law has been held to bar creditors from recovering upon a debt twice. This is commonly referred to as the Single Satisfaction Rule. Clearly, the someone was listening to the Rolling Stones. In a recent case I opposed a motion for Summary Judgment against a guarantor of a debt raising this […]
Enacted in 2008, CPLR § 3408 originally applied only to foreclosure actions involving high-cost, subprime or nontraditional home loans. In 2009, the law was extended to cover all residential home loans. CPLR § 3408 requires, among other things, that the court hold a mandatory conference within sixty days after the date when proof of service […]
A foreclosure can be upset if the borrower convinces a court that he thought settlement negotiations were proceeding and that he therefore was not obliged to defend the case. This happened in Wells Fargo Bank, N.A. v. Chateau, 36 Misc.3d 280, 947 N.Y.S.2d 773 (2012).
If your foreclosure action has been discontinued after 2 or 3 years with no explanation, be aware that it is not all good news. The bank will likely just sue you again in a new action. I believe that the reason this is happening is because of a court rule requiring plaintiff’s lawyers handling foreclosures […]
MERS just won a case in the Seventh Circuit. Here is the story. .
In a litigation, all necessary parties must be joined in the action. Failure to do so may result in dismissal. This is codified in the CPLR:
Our firm has just obtained loan modifications, approved by our clients and their lenders, with two different lenders/servicers: Chase and Residential Credit Services (RCS).
I recently opposed a lender’s motion for Summary Judgment on the grounds that it lacked standing. Here is an excerpt from that brief.
Order of the court Avista Management vs. Wausau Underwriters Insurance Co. NEW YORK (FORTUNE) – This is the text of the order requiring attorneys for each side to play a game of ‘rock, paper, scissors’ on the courthouse steps. (Back to story)