Adam Leitman Bailey, P.C. Swiftly Settles Foreclosure Action in Favor of Lender
In CitiMortgage, Inc. v. Friedman, et al., Adam Leitman Bailey, P.C. settled a highly contested foreclosure proceeding, in getting the lender paid off despite the substantial fraud allegations and standing challenges asserted by the borrower.
In response to the lender’s motion for summary judgment and order of reference, the borrower cross-moved for renewal and/or reargument of the borrower’s previously denied summary judgment motion on the basis of newly discovered evidence contesting the lender’s standing to prosecute the action, to wit, a second note executed by the borrower with different terms from the note being foreclosed upon and an affidavit from an ex-employee of the lender stating that the foreclosure proceeding was commenced on the wrong note.
In order to defeat the borrower’s claims, during oral argument before the Honorable Robin S. Garson, J.S.C., Adam Leitman Bailey, P.C. focused on the fact that the Borrower previously appealed her denied motion for summary judgment, and that the Appellate Division denied her appeal, finding that the lender adequately established standing.
Despite the harmful new evidence that was uncovered, Adam Leitman Bailey, P.C. again sufficiently demonstrated to the court that the lender had sufficient standing to commence the action and bolstered the argument with the Appellate Division decision.
At the bench, it was clear that Adam Leitman Bailey, P.C.’s arguments were favored by Judge Garson on both presentation and substance. Using the appearance outcome as leverage to settle, Adam Leitman Bailey, P.C. successfully negotiated a full payoff of the loan, thereby getting the lender paid quickly and without further protracted litigation.
The Foreclosure Group at Adam Leitman Bailey, P.C. won this case for the Lender, with Jackie Halpern Weinstein on strategy and settlement negotiations, Colin E. Kaufman on oral argument, and another attorney on preparations and drafting.