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Search results for "accelerated judgment"
751 results found for "accelerated judgment"
- As a Matter of Equity, Hearing Court/Referee was Required to Calculate the Amounts Due in Mortgage Foreclosure Action
Generally, when the foreclosing lender moves for summary judgment and/or a default judgment, it also Thereafter, an order of reference and a judgment of foreclosure and sale were entered on default. The borrower’s motion was denied “except that branch which was to vacate the judgment of foreclosure and sale and set aside the sale ‘based upon a “mistake” with respect to the judgment amount,’ which the Accordingly, the lender moved to amend the judgment of foreclosure and sale to include as the amount
- The Filing of a Settlement Conference RJI Insufficient -- This Time -- to Avoid Dismissal Under CPLR 3215(c)
Rules provides, in pertinent part, that: If the plaintiff fails to take proceedings for the entry of judgment within one year after the default, the court shall not enter judgment but shall dismiss the complaint Finally, a default judgment need not be obtained within one year, as long as proceedings to obtain a default judgment that “manifest an intent not to abandon the case, but to seek a judgment” have been Three years later, the lender moved for a default judgment and an order of reference.
- Plaintiff’s Filing of an Affidavit of Service of the Summons and Complaint Several Days Late Results in the Vacatur of a Default Judgment Obtained Over Six Years Earlier
When a defendant fails to appear or plead, plaintiff may seek a default judgment. A plaintiff making an application for a default judgment must, among other things, submit proof of: ( Plaintiff obtained a default judgment on April 22, 2010 after defendant failed to appear. discretion, by deleting the provision thereof denying the defendant’s motion to vacate the default judgment the defendant in default as of a date prior to the order, nor may a court give effect to a default judgment
- Breach of a Demand Promissory Note Claim Accrues When Demand for Payment Is Made
On November 1, 2023, plaintiff filed a motion for summary judgment in lieu of complaint for repayment The judgment was signed on March 14, 2024, and entered on March 26, 2024. A party may move for judgment dismissing one or more causes of action asserted against it on the ground limitations begins to run on the date each installment becomes due and is defaulted upon, unless the debt is accelerated
- The New York Court Of Appeals Decides Four Cases, In One Opinion, Addressing And Clarifying Issues Related To The Timeliness Of The Commencement Of Mortgage Foreclosure Actions
and de-acceleration of mortgage debt. renew, changed course and denied lender’s motion to dismiss and granted borrower’s motion for summary judgment Acceleration also triggers the six-year statute of limitations on the accelerated amount of the debt. Appellate Division order, deny plaintiff's motion for summary judgment and grant Deutsche Bank's motion Now it is clear that the discontinuance of an action that accelerated a loan operates to de-accelerate
- First Department Holds Mortgagor That Sold Property During Foreclosure Has Standing to Raise RPAPL 1304 Defense Because He May Be Liable For Deficiency
Davidson, 202 A.D.3d 880 (2nd Dep’t 2022), in reversing a judgment of foreclosure and sale and granting summary judgment to the borrowers, the Court stated that “[c]ontrary to the [lender’s] contention, the In July of 2017, the motion court issued an order granting lender’s unopposed motion for summary judgment under RPAPL 1371 against borrower; the lender sought a deficiency judgment against the borrower in its complaint; the judgment of foreclosure and sale provided for a deficiency judgment; and, because the
- Supreme Court, Kings County, Holds That A Settlement Conference RJI Fails to Satisfy the “Take Proceedings” Requirement of CPLR 3215(c) Necessary to Avoid Dismissal
appearing in an action, [2] CPLR 3215(c) requires that the plaintiff act promptly to secure a default judgment 3215(c) provides, in pertinent part, that: If the plaintiff fails to take proceedings for the entry of judgment within one year after the default, the court shall not enter judgment but shall dismiss the complaint A default judgment need not be obtained within one year, as long as proceedings to obtain a default judgment Thus: a settlement-conference RJI cannot constitute "tak[ing] proceedings for the entry of judgment"
- The Second Department Holds That Lender Cannot Use CPLR 3215(c) to Avoid Dismissal of Foreclosure Action Despite Death of Borrower
which provides, in pertinent part, that: If the plaintiff fails to take proceedings for the entry of judgment within one year after the default, the court shall not enter judgment but shall dismiss the complaint demonstrates “sufficient cause” for the failure to timely take proceedings for the entry of a default judgment Subsequently, the lender moved for leave to enter a default judgment[5] and for an order of reference See, e.g., [here], [here], [here] and [here]. [6] CPLR 5015 permits the court to vacate its own judgment
- The Pitfalls of the Informal Appearances and the Benefit of the Corporate Veil
Among other things, an appearance could: preclude the entry of a default judgment by plaintiff; operate Thereafter, plaintiff moved for a default judgment (for failure to respond to the complaint) against Affiliated Corporation’s counsel opposed the default judgment motion by submitting an affidavit in which Plaintiff appealed the denial of its motion for leave to enter a default judgment against [Corporation The Court recognized that “[o]n a motion for leave to enter a default judgment against a defendant based
- Who is Considered a “Borrower” for Notice Purposes Under RPAPL 1304
Davidson, 202 A.D.3d 880 (2nd Dep’t 2022), in reversing a judgment of foreclosure and sale and granting summary judgment to the borrowers, the Court stated that “[c]ontrary to the [lender’s] contention, the The lender’s subsequent motion for summary judgment was granted and, thereafter, the appointed referee Moreover, the court should have awarded summary judgment to [Edith] dismissing the complaint insofar [Edith] established her prima facie entitlement to judgment as a matter of law since it is undisputed
- Fourth Department Applies the Common-Law “Partial Payment Exception”, which Starts the Statute of Limitations on a Mortgage Foreclosure Action to Run Anew
Thus, “the terms of the mortgage may contain an acceleration clause that gives the lender the option The statute of limitations begins to run anew on the entire debt upon acceleration. Lender commenced a mortgage foreclosure action and moved for summary judgment. Borrower cross-moved for summary judgment on statute of limitations grounds . contention on its appeal that the court erred in granting the cross motion insofar as it sought summary judgment
- Court Holds Investment Banking Services Engagement Letter is Not "an Instrument for The Payment of Money Only"
as an “instrument for the payment of money only” under CPLR 3213, which allows for expedited summary judgment Ultimately, the motion court denied Jefferies’ motion for summary judgment, emphasizing that CPLR 3213 in lieu of a complaint when the case is based on an instrument for the payment of money only, or a judgment is superfluous, and even the delay incident upon waiting for an answer and then moving for summary judgment The Court’s Decision and Order The motion court held that “summary judgment under CPLR 3213 [was] not

