Foreclosure Lawsuit Dismissed
US District Court Judge Nicholas Garaufis dismissed the foreclosure lawsuit for failure to serve Stern with the required pre-foreclosure notice under Real Property Action and Proceedings Law Section 1304. This section requires the pre-foreclosure notice to be sent to the borrower at the time of the acceleration of the motion. This is true even if the borrower later moves out of the property which secures the loan. The fact that Stern no longer occupied the property as is primary residence did not excuse the financial institution’s obligation to serve Stern with notice of the foreclosure lawsuit. Judge Garaufis ruled when a lender, assignee or mortgage servicer fails to show strict compliance with the Real Property Action and Proceedings Law Section 1304, the foreclosure defense lawsuit must be dismissed.
Year Established: 2000
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