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New York Clarifies Mortgage Loan Acceleration and De-Acceleration: Starting and Stopping the Limitations Clock | Bradley Arant Boult Cummings LLP

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On February 18, 2021, the New York Court of Appeals’ consolidated resolution of four cases that answered two critical questions concerning the application of the statute of limitations in New York mortgage foreclosure actions: What constitutes a valid acceleration such that the six-year “clock” is started and what actions constitute a valid “de-acceleration” of a loan?
Question 1: What starts the clock?
The opinion discussed two cases,
Wells Fargo Bank, N.V. v. Ferrato and
Vargas v. Deutsche Bank National Trust, addressing acts that do or do not constitute valid acceleration. Like a majority of states, New York requires lenders to accelerate loans via an “unequivocal overt act.” In ....

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Greenberg Traurig Appellate Team Wins 2 Landmark Real Property Cases Before New York's Highest Court

Greenberg Traurig Appellate Team Wins 2 Landmark Real Property Cases Before New York’s Highest Court
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Greenberg Traurig (GT) Appellate team led by Shareholder Patrick Broderick and Of Counsel Brian Pantaleo won in two landmark real property cases before the New York Court of Appeals involving the statute of limitations in mortgage foreclosure cases.
NEW YORK (PRWEB)
February 22, 2021
A Greenberg Traurig (GT) Appellate team led by Shareholder Patrick Broderick and Of Counsel Brian Pantaleo won in two landmark real property cases before the New York Court of Appeals involving the statute of limitations in mortgage foreclosure cases. The two cases are ground-shifting in New York real property law. Their state-wide application will likely protect billions in assets for mortgage holders throughout New York State. ....

New York , United States , Brian Pantaleo , Donna Ferrato , A Greenberg Traurig , Patrick Broderick , Greenberg Traurig Appellate Group , Greenberg Traurig , Wells Fargo Bank , Deutsche Bank National , York Court , Shareholder Patrick Broderick , Counsel Brian Pantaleo , New York Court , Bank National Trust , Real Estate Settlement Procedures Act , Lending Act , Fair Debt Collections Practices Act , Fair Credit Reporting Act , Telephone Consumer Protection Act , Appellate Practice , Appellate Group , First Amendment , Latin America , Mansfield Rule , Press Release ,

Land bank eyes properties - Times Gazette

Land bank eyes properties
By Jacob Clary - jclary@aimmediamidwest.com
Highland County commissioners Jeff Duncan (left) and Terry Britton (right) set at the head table during a Thursday meeting of the Highland County Land Reutilization Corporation.
Jacob Clary | The Times-Gazette
Multiple promising properties were highlighted, but the most popular property discussed Thursday at a Highland County Land Reutilization Corporation meeting was one at 256 E. Walnut St. in Hillsboro.
Multiple contractors saw the property and commented that it had a lot of potential, according to reports at the meeting.
The former owner of the house passed away in September of 2019 and has no known relatives. The first half of 2019’s taxes were paid, but the second half’s have not been paid. The tax due is $1,039, with the land valued at $20,000 and the total value, which is the land and the house, at $77,900. ....

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