Home Mortgage New York court orders 21st Mortgage to cover borrower’s $100,020 fees
Mortgage

New York court orders 21st Mortgage to cover borrower’s $100,020 fees

Share


She appealed. In October 2018, the Appellate Division, Second Department, handed her a cleaner result. It canceled and discharged the mortgage, erased the equitable mortgage, and held she could recover her attorneys’ fees under New York’s Real Property Law § 282. The only open question was the amount. 

Answering it took time. A court-appointed referee – a neutral official who weighs the evidence and reports to the judge – held a two-day hearing and recommended a figure. In February 2023, the trial court confirmed it: $100,020. 

21st Mortgage appealed a second time, now over the fees. On August 5, 2026, the court affirmed the award. 

The mechanics are what matter here. Real Property Law § 282 is a reciprocity statute. When a mortgage gives a lender the right to collect its legal fees from a borrower, the law mirrors that right back – a borrower who wins can collect fees from the lender. 

And the contract granted plenty. The note let 21st Mortgage recover “for all of its costs and expenses in enforcing this Note.” The mortgage let it add “all reasonable attorneys’ fees” to the borrower’s balance. That single word, “all,” carried the day. 



Source link

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Don't Miss

How Litecoin Supports Simple Digital Payments in Everyday Life

Digital payments have become faster and more accessible over the past decade, but the experience is still not always simple. Bank transfers can...

France to Phase Out Non-Quantum Encryption as Bitcoin Security Concerns Grow

In brief France will stop certifying security products that lack quantum-safe encryption beginning in 2027. Officials cited concerns that future quantum computers could...

Related Articles

Current ARM mortgage rates report for Aug. 7, 2026

While fixed-rate mortgages are far more popular than adjustable-rate mortgages, the latter...

Mortgage rates edge down to 6.65% as 30-year fixed eases

Mortgage rates remain elevated around 6.65% to 6.69% for 30-year fixed loans,...

Mortgage rates today, Aug. 7, 2026

The average interest rate for a 30-year, fixed-rate conforming mortgage loan in...

Mortgage and refinance interest rates today, Friday, August 7, 2026: Rates fall ahead of jobs report

According to the Zillow lender marketplace, mortgage rates continue to have more...