Loan servicer—Appellate win

Obtained a favorable ruling for loan servicer client from New York’s Appellate Division, Second Department reversing the Supreme Court’s order, which, in effect, restrained the plaintiff note holder from revoking a prior election to accelerate the subject mortgage debt and dismissed the foreclosure action as time-barred. The Second Department reasoned that the prior election to accelerate was timely revoked via a de-acceleration notice and that plaintiff was not equitably estopped from revoking its election to accelerate.