FILING A 90 DAY NOTICE AND THEN DISCONTINUING THE FORECLOSURE ACTION IN 2014 DID NOT REVOKE THE ELECTION TO ACCELERATE REPRESENTED BY THE FILING OF THE SUMMONS AND COMPLAINT IN 2008, FORECLOSURE ACTION PROPERLY DISMISSED AS UNTIMELY (SECOND DEPT).
The Second Department determined the foreclosure action was untimely. The summons and complaint operated to accelerate the debt, triggering the six-year statute of limitations. The fact that the plaintiff bank filed a 90-day notice within the six years and then subsequently discontinued the foreclosure action did not revoke the election to accelerate: The filing […]
