Second Department Clarifies Law Concerning a Lender’s Revocation of Acceleration in Foreclosure and Confirms the Sanctity of Settlement
March 12, 2021
In the New York Law Journal, Morgan McCord examines a recent Appellate Division decision, which addressed what evidentiary showing a foreclosing lender must make to defeat a defendant’s motion for dismissal on statute of limitations grounds. The court found that a lender’s submission of a loan modification agreement coupled with proof of its voluntary discontinuance of a foreclosure action and cancellation of the notice of pendency is sufficient to raise an issue of fact.
Click here to view the full article: Second Department Clarifies Law Concerning a Lender’s Revocation of Acceleration in Foreclosure and Confirms the Sanctity of Settlement