Adam Leitman Bailey Articles

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Avoiding Usury: Determining the Maximum Interest That Can Be Legally Charged

  • Adam Leitman Bailey, Danny Ramrattan, Dov Treiman, Foreclosure Litigation Group, Landlord Representation, New York Law Journal, Real Estate Administrative Proceedings/Environmental Control Board, Real Estate Litigation

Adam Leitman Bailey, Dov Treiman, and Danny Ramrattan discuss the limited applicability of usury defenses. They write: “In all, this area of the law is deceptively simple and the resolution of any case will require a close examination of the intricacies of the particular matter.” New York imposes two separate rates for determining usury, a  Full Article…

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Foreclosure Abuse Prevention Act in a Nutshell

  • Adam Leitman Bailey, Foreclosure Litigation Group, John Desiderio, New York Law Journal

In 2022, the New York State Legislature enacted the Foreclosure Abuse Prevention Act (FAPA), thereby amending several interrelated provisions of the Civil Practice Law and Rules (CPLR), the Real Property Actions and Proceedings Law (RPAPL), and the General Obligations Law (GOL), which affect how and when the statute of limitations may be invoked by defaulting  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 and Dismissal of Prior Owner’s Affirmative Defenses in Highly Contested Post-Foreclosure Eviction Proceeding

  • Foreclosure Litigation Group, Landlord Representation, Vladimir Mironenko

Representing the purchaser of a single-family Queens home after foreclosure, Adam Leitman Bailey, P.C. won summary judgment and dismissal of affirmative defenses with a judgment and warrant of eviction against the prior owner following a foreclosure sale. We commenced the summary eviction proceeding by filing a holdover petition after serving the prior owner with a requisite notice  Full Article…

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Adam Leitman Bailey, P.C. Wins a Foreclosure Notice Issue of First Impression in the First Department

  • Colin E. Kaufman, Danny Ramrattan, Foreclosure Litigation Group

In a mechanic’s lien foreclosure auction, Adam Leitman Bailey, P.C. was retained post-auction on behalf of the third-party purchaser. The prior owner moved to vacate the sale. After an initial round of motion practice, the Court issued an interim order referring the case to a special referee for a hearing on 2 separate grounds: (1)  Full Article…

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