Tuesday, August 21, 2018

MORTGAGE FORECLOSURE - STATUTE OF LIMITATIONS AND DE-ACCELERATE DEFENSE



In Milone v US Bank Natl. Assn., 2018 NY Slip Op 05760, Decided on August 15, 2018, Appellate Division, Second Department, the court held that summary judgment could not be granted for either party in an action pursuant to RPAPL 1501(4) to cancel and discharge a mortgage and note. As noted by the court: "The instant appeal provides us with an occasion to address the timeliness and required proofs for the valid de-acceleration of note obligations underlying residential mortgage foreclosure actions."

The full decision can be viewed here: Milone v US Bank Natl. Assn. 2018 NY Slip Op 05760 Decided on August 15, 2018 Appellate Division, Second Department

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