News & Analysis as of September 21, 2024

Foreclosure › Collateral Estoppel

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Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -

Fool Me Once, Shame on You; Fool Me Twice, Shame on Me: Res Judicata and Ownership Claims Post Foreclosure

Cadwalader, Wickersham & Taft LLP on 8/29/2024

The Supreme Court of the State of New York, County of Westchester, recently held that the doctrine of res judicata bars a lender’s claim that a borrower’s subsequent transfers of property are void, if the claim is brought...more

There’s No Going Back: The Finality of Mortgage Foreclosures

Cadwalader, Wickersham & Taft LLP on 3/1/2024

In New York, it is settled precedent that a judgment of foreclosure and sale is final as to all questions at issue between the parties. Thus, once a final judgment is entered, both parties have no recourse or ability to raise...more

NY’s Third Department Holds Action Enforcing Note Is Neither Barred by Estoppel Doctrines Nor the Applicable Statute of...

Blank Rome LLP on 1/26/2021

In CitiMortgage, Inc. v. Ramirez, 2020 WL 7647749, at *3 (3d Dept. Dec. 24, 2020), the Appellate Division, Third Department, held that CitiMortgage, Inc.’s action to recover under a note (i) was not precluded because of...more