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Courchevel 1850 LLC v. Espinosa

Default Judgment in Foreclosure Action Vacated as Not Willful; Meritorious Defense Noted

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Courchevel 1850 LLC, Plaintiffv.Miguel Espinosa a/k/a Miguel Espinoza, Perla Espinosa, and Freeway Group Inc., Defendants

OPINION AND ORDERPlaintiff Courchevel 1850 LLC (“Courchevel”) filed this action against defendants Miguel Espinosa a/k/a/ Miguel Espinoza, Perla Espinosa, and Freeway Group Inc. (“Freeway”), under New York Real Property Actions and Proceedings Law (“RPAPL”) §1301 et seq., to foreclose on a mortgage encumbering property commonly known as 4 Lafayette Avenue, New Rochelle, New York 10801 (the “Property”). Now pending is Freeway’s motion to vacate the default judgment of foreclosure and sale entered against it by the Court on September 6, 2017. (Doc. #17).For the following reasons, Freeway’s motion is GRANTED.The Court has subject matter jurisdiction under 28 U.S.C. §1332.BACKGROUNDI. Factual BackgroundFreeway manages the Property’s three residential rental units.Mingjing Lu, Freeway’s president and sole shareholder, avers Freeway purchased the Property from defendants Miguel and Perla Espinosa in a short sale on May 10, 2013. (Doc. #21: Lu Aff.7 & Ex. J).Lu states the Espinosas’ mortgage loan servicer, Ocwen Loan Servicing (“Ocwen”), agreed to accept $227,973.08¹ in full satisfaction of the Espinosas’ first mortgage, and $17,170.73 in full satisfaction of the Espinosas’ second mortgage. (Lu Aff.7). In accordance with the agreement with Ocwen, Freeway paid off the mortgages on the Property on May 10, 2013, including the $172,750 mortgage made by the Espinosas to Impac Funding Corporation (“Impac”) that is the subject of Courchevel’s complaint in this action. (Compare Lu Aff.

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