A recent decision in United States District Court, E.D. New York by the Honorable Raymond J. Dearie cited a recent New York Law Journal article authored by Adam Swanson and Jessie Bonaros.
The premise of the Section 1501(4) claim, as discussed in the Court’s prior decision, is one frequently arising in mortgage foreclosure litigation in New York, namely, that the commencement of a prior foreclosure action involving the same mortgage—which was terminated or abandoned or otherwise did not result in a binding judgement on the merits— nevertheless had the important legal effect of accelerating the full mortgage debt and starting the running of the six year statute of limitations on that debt. See generally Swanson, Adam M. & Bonaros, Jessie D., Mortgage Acceleration and Statute of Limitations Developments in the Second Department, N.Y.L.J. (Mar. 20, 2019).