Adam Leitman Bailey Articles

Adam Leitman Bailey Articles

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In a Battle of Foreclosure Actions, Adam Leitman Bailey, P.C. Successfully Leads Second Position Mortgage Lender to Win the Race to the Auction, Resulting in Full Payment

  • Danny Ramrattan, Foreclosure Litigation Group, Jackie Halpern Weinstein

A highly desirable residential condominium unit was the subject of two competing foreclosure actions. ALBPC was retained by the second position lender to commence foreclosure proceedings and also to defend the lender’s interest in the first position lender’s foreclosure action. The first mortgage entered into a modification agreement with the borrower whereby it increased the  Full Article…

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Adam Leitman Bailey, P.C. Defeats A Borrower’s Brazen Attempt To Dismiss A Foreclosure Action On The Grounds That, Due To Her Own Delays, The Lender Failed To Hold A Foreclosure Sale In Accordance With RPAPL § 1351(1)

  • Courtney J. Lerias, Foreclosure Litigation Group, Jackie Halpern Weinstein

RPAPL § 1351(1) requires that a foreclosing lender hold a foreclosure sale within 90 days of the date that the lender obtains a judgment of foreclosure and sale. However, there are various procedural mechanisms a borrower can employ to delay such a sale. Adam Leitman Bailey, P.C. is well-versed in navigating the issues. In a  Full Article…

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A Lender’s Guide To Hiking Through the Retroactive Trails of the Foreclosure Abuse Prevention Act

  • Adam Leitman Bailey, Danny Ramrattan, Foreclosure Litigation Group, Jackie Halpern Weinstein, New York Law Journal

Lenders in New York are battling backwards to foreclose on loans that are indisputably due and owing. On Dec. 30, 2022, Governor Kathy Hochul signed into law the controversial Foreclosure Abuse Prevention Act (FAPA) in direct response to the New York State Court of Appeals’ decision in Freedom Mtge. Corp. v. Engel, 37 N.Y.3d 1 (2021),  Full Article…

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Adam Leitman Bailey, P.C. Wins a Case of First Impression Under FAPA, Protecting its Client’s Mortgage in a Murky Legal Climate for Lender’s Rights

  • Courtney J. Lerias, Danny Ramrattan, Foreclosure Litigation Group, Jackie Halpern Weinstein

Adam Leitman Bailey, P.C. was retained by a lender to navigate through the ever-changing foreclosure laws and save the lender’s ability to foreclose. The lender’s foreclosure action was commenced in 2017. The lender moved for summary judgment, and the borrower cross-moved to dismiss, arguing that, per the Second Department’s holding in Bank of America, N.A.  Full Article…

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Adam Leitman Bailey, P.C. Preserves Six Million Dollars In Loans Made by Its Client

  • Courtney J. Lerias, Foreclosure Litigation Group, Jackie Halpern Weinstein, Jeffrey R. Metz, Real Estate Litigation, Title Insurance Claims Group

When the managing member of three real estate LLCs sought to refinance the existing senior debt, Adam Leitman Bailey, P.C.’s client made loans totaling approximately six million dollars. There was also a mezzanine lender, whose agreement with the holding company for the LLCs, required its written permission for an activity such as a refinance. None  Full Article…

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Adam Leitman Bailey, P.C. Wins Summary Judgment Despite Attacks on the Servicer’s Limited Power of Attorney and on the Affidavits of Service for the Notices

  • Courtney J. Lerias, Danny Ramrattan, Foreclosure Litigation Group, Jackie Halpern Weinstein, Title Insurance Claims Group

Adam Leitman Bailey, P.C. was retained by a lender in connection with the foreclosure of a business purpose loan on a residential premises in Suffolk County. Once the firm moved for summary judgment, the defendants argued that the affidavit of a Vice President from the loan servicer and attorney-in-fact to the plaintiff was insufficient to  Full Article…

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Adam Leitman Bailey, P.C. Wins Summary Judgment in Multi-Property Business Purpose Loan Contested Foreclosure

  • Courtney J. Lerias, Danny Ramrattan, Jackie Halpern Weinstein

Adam Leitman Bailey, P.C. was retained by lender to commence a foreclosure action against a borrower on a business purpose loan that was secured by four properties. Defendant borrower filed an answer with affirmative defenses alleging that Defendant was not delinquent on mortgage payments, and that the Lender was the cause of the default. Adam  Full Article…

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Adam Leitman Bailey, P.C. Cleans Up A Challenging Foreclosure Case And Secures Summary Judgment In Favor Of The Lender

  • Courtney J. Lerias, Danny Ramrattan, Jackie Halpern Weinstein

Adam Leitman Bailey, P.C. was retained by a lender to clean up a messy foreclosure action in which summary judgment had already been denied on the grounds that the lender failed to establish that 90 Day Notices were sent to the borrower in compliance with RPAPL § 1304, a statute that consistently proves to be  Full Article…

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