Adam M Swanson

April 05, 2022 | New York Law Journal

If enacted, this so-called "foreclosure abuse prevention act" would present a radical departure from more than a century of well-settled law, likely accelerating gentrification and exacerbating New York City's housing crisis by creating favorable conditions for real estate speculators to prey on, and profit off, vulnerable and distressed homeowners.

By Adam M. Swanson and Timothy William Salter

7 minute read

May 14, 2021 | New York Law Journal

When viewed in its proper context, tolling prejudgment interest is contrary to the plain language of CPLR 5001(a), legislative intent and Court of Appeals precedent.

By Adam M. Swanson and Jessie D. Bonaros

10 minute read

March 20, 2020 | New York Law Journal

The guidance, issued by the DFS Executive Deputy Superintendent Shirin Emami, urged—but did not mandate—that servicers help to "alleviate the adverse impact caused by COVID-19" on New York mortgage borrowers who "demonstrate they are not able to make timely payments."

By Adam M. Swanson and David S. Mordkoff

3 minute read

March 20, 2019 | New York Law Journal

In 'Bank of New York Mellon v. Dieudonne', the Appellate Division, Second Department determined that a mortgage is accelerated by the filing of a complaint to foreclose the mortgage with an election to accelerate. This is true even though a provision in the mortgage preserves the borrower's right to make installment payments rather than the full debt. The decision will reverberate nationally and through New York.

By Adam M. Swanson and Jessie D. Bonaros

9 minute read

January 02, 2019 | New York Law Journal

Legacy foreclosures are running up against New York's six-year foreclosure statute of limitations, CPLR §213(4). Lenders' counsel must be vigilant. Mortgages are routinely being discharged under the statute of limitations.

By Adam M. Swanson

8 minute read

February 07, 2017 | New York Law Journal

In their Foreclosure Law column, Adam Leitman Bailey and Adam M. Swanson review recent case law and discuss some of the benefits and pitfalls when using an acceleration clause and how to overcome these obstacles.

By Adam Leitman Bailey and Adam M. Swanson

28 minute read

May 25, 2016 | New York Law Journal

Jonathan M. Robbin, Adam M. Swanson and Frank Crowley write: The First Department's recent decision in U.S. Bank v. Askew held that, regardless of issues relating to an allonge, or the validity of an allonge, a plaintiff in a foreclosure action proves its prima facie case by demonstrating physical delivery of the note prior to commencement of the action. The decision contradicts a Second Department dismissal of a plaintiff's foreclosure action because the allonge was not "firmly affixed" to the note.

By Jonathan M. Robbin, Adam M. Swanson and Frank Crowley

18 minute read