New York’s Highest Court Makes Key Rulings in Favor of Lenders Clarifying What Accelerates and De-Accelerates a Mortgage Debt for Statute of Limitations Purposes
The New York Court of Appeals has resolved a split between two intermediate state appellate courts regarding whether a default letter clearly and unequivocally affirmatively accelerates a mortgage debt and provided much needed clarity on what conduct sufficiently accelerates a mortgage debt and revokes acceleration. The authors of this article discuss the decisions.
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“New York’s Highest Court Makes Key Rulings in Favor of Lenders Clarifying What Accelerates and De-Accelerates a Mortgage Debt for Statute of Limitations Purposes,” by Wayne Streibich, Diana M. Eng, and Chenxi Jiao was published in the Summer 2021 edition of The Real Estate Finance Journal, a Thomson Reuters publication. Reprinted with permission.
This article was first published as a Blank Rome Consumer Finance Litigation alert on February 22, 2021.