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Commercial Law Legislation Litigation

The Consequences of Imperfect Foreclosure Affirmations

Where the borrower's default is not in dispute, the First Department appears to have recognized that there is little reason to delay the inevitable foreclosure. Discussion of a case in point.

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An administrative order issued by the state’s chief judge requires counsel for a foreclosing mortgagee to prepare an affirmation establishing the factual accuracy of the documents on which the foreclosure action is based. When the mortgagor has conceded default on the mortgage, what perceived deficiencies in the affirmation preclude issuance of an order of reference and a judgment of foreclosure and sale? The First Department recently faced that issue in Bank of America v. Brannon, NYLJ 11/1/17, p. 22., col. 1, and the issue has also provoked litigation in the Second Department. The import of those cases appears to be that when the mortgagee substantially complies with the administrative order, the mortgagee will be entitled to proceed with the foreclosure.

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