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CPLR 3408 – Good Faith In Mandatory Foreclosure Settlement Conferences
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 […]
CPLR 3408 – Good Faith In Mandatory Foreclosure Settlement Conferences
/in Foreclosure & Loan Mod Blog /by Scott LaninEnacted 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 […]
Settlement Negotiations As The Basis For A Reasonable Excuse To Vacate A Default And File A Late Answer
/in Foreclosure & Loan Mod Blog /by Scott LaninA 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).