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Criteria for Setting Aside a Foreclosure Sale Explained—Not Met Here

In finding the motion to vacate a foreclosure sale was properly denied, the Second Department explained the circumstances in which a foreclosure sale will be set aside: “In the exercise of its equitable powers, a court has the discretion to set aside a foreclosure sale where there is evidence of fraud, collusion, mistake, or misconduct” … . “Absent such conduct, the mere inadequacy of price is an insufficient reason to set aside a sale unless the price is so inadequate as to shock the court’s conscience”… . Chiao v Poon, 2015 NY Slip Op 04268, 2nd Dept 5-20-15

 

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