December 1st Mortgage Foreclosure Sale
“This is a mortgage foreclosure motion brought by a lender that has bent over backwards — time and again — to accommodate a defaulting borrower that has opted to look a gift horse in the mouthhttps://www.caballoblanco.info” courtroom documents learn. A current court order discovered that a mezzanine lender may conduct a UCC foreclosure sale regardless of a short lived suspension of judicial foreclosures in New York State. Next up was D2 Mark LLC v. Orei VI Investments LLC (Index No. /20). In that casehttps://www.caballoblanco.info the court docket enjoined a UCC foreclosure sale from shifting forward however not as a result of the sale was barred by the Executive Order. Insteadhttps://www.caballoblanco.info the courtroom targeted on language in the mezzanine loan agreement which the courtroom interpreted as limiting the mezzanine borrower’s treatments to injunctive aid (that means that financial damages had been unavailable).
Payment is required in certified funds (cashier’s examinehttps://www.caballoblanco.info cash orderhttps://www.caballoblanco.info or cash). The funds should be in our workplace by the deadline in the Cure Statementhttps://www.caballoblanco.info or by noon of the enterprise day previous to the foreclosure salehttps://www.caballoblanco.info whichever is earlier. When a borrower defaults on a provision of a Deed of Trusthttps://www.caballoblanco.info the lender could select to foreclose …