MEMORANDUM DECISION AND ORDER I. INTRODUCTION Plaintiff filed its complaint in this action on November 22, 2020, see Dkt. No. 1, and duly served Defendant Gilbert with the summons and complaint, see Dkt. No. 3, and her time to answer or otherwise appear in this action has expired. On January 16, 2021, Plaintiff requested a Clerk’s entry of default, see Dkt. No. 4, which the Clerk of the Court entered on January 19, 2021, see Dkt. No. 5. Plaintiff filed its pending motion for entry of a default judgment and entry of judgment of foreclosure and sale on March 8, 2021. See Dkt. No. 7. II. BACKGROUND Plaintiff brought its action against Defendant Gilbert to foreclose on a Home Equity Conversion Mortgage (“HECM”), also known as a reverse mortgage, which is a program regulated and set forth in 24 CFR Part 206, et seq. and all subsequent handbooks (4330.1 REV 5), mortgagee letters, etc. as set forth by the Secretary of the Department of Housing and Urban Development. See Dkt. No. 7-1, Affidavit of Mikel Anderson, Plaintiff’s Chief Counsel (“Anderson Affidavit”) at 10. Pursuant to this program’s requirements, Defendant Gilbert was duly counseled regarding the HECM loan program prior to execution of the note and mortgage that are the subject of this action. See id. at 12. On or about August 16, 2005, Defendant Gilbert executed and delivered to Community Home Equity Conversion Corp. an Adjustable Rate Note (“Note”) and, as collateral of aforesaid Note, a Mortgage in the amount of $78,000.00. See id. at 13. The Mortgage was recorded in the Office of the Clerk of Chenango County on August 25, 2005. See id. at
13-14 & Exhibit “A” attached thereto. The mortgaged premises is 66 Pearl Street, Bainbridge, NY 13733. See id. at 15. Simultaneous with her execution of the Mortgage and Note, Defendant Gilbert executed and delivered a second note and collateral mortgage (“Collateral Mortgage and Second Note”) in favor of Plaintiff dated August 16, 2005, recorded on August 25, 2005, in the Chenango County Clerk’s Office. See id. at 16 & Exhibit “B” attached thereto. After several assignments, Nationstar Mortgage, LLC, d/b/a Champion Mortgage Company assigned the Mortgage to Plaintiff by an assignment dated November 17, 2018, and recorded on November 19, 2018, in the Chenango County Clerk’s Office. See id. at 24 & Exhibit “F” attached thereto. As a result of this assignment Plaintiff is the owner and holder of the Mortgage and Note and, as such, has the authority to institute this mortgage foreclosure action. See id. at 25. Pursuant to 7(b)(i) of the Note, titled “IMMEDIATE PAYMENT IN FULL,” Plaintiff may require immediate payment in full if the property ceases to be the principal residence of the borrower for reasons other than death. See id. at 26. Defendant Gilbert, the borrower, moved out of the mortgaged premises on or about November 2018 and the mortgaged premises has been abandoned since that time. See id. at
