Could Laches Ever Beat Mortgages?

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Perhaps unexpectedly, the recent case says yes, and this is a daunting (but beneficial) solution for any mortgage holder – although it is pertinent to add that the calculation could have been avoided if the mortgage holder had been more careful about his or her mortgage. situation. [Bank of New York v. Terrapin Industries, LLC, 189 A.D.3d 620, 139 N.Y.S.3d 149 (1st Dept. 2020).]

There is an immediate perspective as to why weakness as a possible defense is particularly worth considering. While in serious commercial cases, borrower protections tend to be tied to the reality of the transaction (regardless of whether or not foreclosure plaintiffs consider them valid), in the housing situation, frankness suggests that shotgun defenses are common. It is not unusual for foreclosures to be answered with 10, 20, or even 30 or more positive objections.

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