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New York Business Litigation Lawyer Blog

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Court Compels Borrower and Lender to “Split the Difference”

A foreclosure action reached an impasse when a borrower agreed to pay $2000 per month while the lender would accept no less than $3000. After noting that the court could allow the negotiations to stall, and the foreclosure to continue, the court, suspecting that the lender engaged in discriminatory lending,…

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Bank Sanctioned and Existing Mortgage Discharged

In a dramatic case, a Suffolk County judge has cancelled a valid and existing note and mortgage. During the course of a foreclosure action, the bank, Indymac Bank, refused to cooperate in reasonable settlement negotiations, engaged in misleading tactics, could not establish the amount that was owed, and demanded full…

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