Barnett (New York Appellate Division, 2011), the New York Supreme Court found that the
foreclosing party failed to show its right to enforce the note where the affidavits submitted by the bank's vice president "did not state any factual details concerning when the plaintiff received physical possession of the note and, thus, failed to establish that the plaintiff had physical possession of the note prior to commencing [its] action."
The post Court bans BoC from
foreclosing, citing existence of older ruling appeared first on Cyprus Mail .
9-504 -- This section of the law is the more common method for
foreclosing upon a co-op, Under this section, the lender may dispose of the collateral at a public or private sate, as long as it does so in a commercially reasonable manner.
In total, there are now 252 properties registered and bonded in accordance with the Vacant and
Foreclosing Property Ordinance, and nearly $1.3 million has been deposited in an escrow account.
Parallel to our filing, HUD was in the process of
foreclosing on the property and scheduling an auction for its sale as a rental property.
None of the parties involved in foreclosure proceedings - the property owner, the
foreclosing bank, nor the court-appointed receiver - made the property secure so as to avoid vandalism.
If the contractor who filed the lien is successful in
foreclosing on the lien, the court will order a sale of the building to pay off the lien.
Investors have already purchased the note on one Queens property with an eye on
foreclosing, said the board's attorney Abbey Goldstein, partner in Goldstein & Greenlaw.
As Yogi Berra used to say, "it ain't over 'til it's over." Although not talking about mortgage foreclosure sales, his words carry a message both for
foreclosing lenders and purchaser at foreclosure sales.
In the 1930s, graphic photos showed bankers
foreclosing on family farms and parents with small children evicted along with their few pitiful possessions.
Thus, this grim situation looks hopeless, with the mortgage holder seriously considering
foreclosing on the property to stem its losses while the cooperative development contemplates filing a bankruptcy petition in an attempt to preserve the cooperative status of the property.
He said the condos will just have to aa faster in
foreclosing their liens with respect to past due common charges because they could be cut off otherwise.
They will use their experience in real estate, legal, environmental, regulatory, and accounting issues, Foray principals have been successful in restructuring and
foreclosing over $1 billion in loans.
