Legacy foreclosures are running up against New York's six-year foreclosure statute of limitations, CPLR §213(4). Lenders' counsel must be vigilant. Mortgages are routinely being discharged under the ...
Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. An acceleration clause demands full loan repayment if specific terms are breached. Common in ...
Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Andy Smith is a Certified Financial Planner (CFP®), licensed realtor and educator with over ...
A year ago, pending in New York were nearly 26,000 legacy foreclosures—foreclosures arising from mortgages originated between 2004 and 2008. Many of these mortgages went into default shortly after ...
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