Article
I’m Still Standing...yeah, Yeah, Yeah: New York Reaffirms Limits On Mortgage Acceleration
A New York court examines whether a mortgage foreclosure action dismissed for lack of standing validly accelerated the loan debt, determining the application of statute of limitations rules when the original plaintiff lacked authority to bring suit. The decision addresses competing interpretations of CPLR §213(4)(b) and establishes precedent for when lenders may claim a mortgage was not validly accelerated.
Hogan Lovells Cadwalader