
LendingHome Funding Corp. v. REI Holdings, LLC: Substance Over Form
September 18, 2024The Weekly Friedman | Episode 19
September 25, 2024In U.S. Bank National Association v. Jaklin S. Mahram, the defendant appealed an order and judgment of foreclosure and sale from the Supreme Court of Nassau County (Judge David P. Sullivan). The order and judgment appealed from granted the plaintiff’s motion to confirm a referee’s report, as well as denied defendant’s cross-motion to reject the referee’s report, and directed the foreclosure sale of the property in question.
The court appointed a referee to compute the outstanding mortgage amount owed by Mahram, which was calculated at $983,981.62. The defendant’s appeal contended that the referee’s report was flawed and sought to toll the accrual of interest, arguing improper delay by the plaintiff. The appellate court upheld the lower court’s decision, confirming the referee’s report and rejecting the defendant’s argument that the delay was sufficient to toll the interest. The delays were found not egregious enough to warrant such relief. The order of foreclosure and sale was affirmed, allowing the foreclosure to proceed.
The successful appellate attorneys for U.S. Bank were Zachary Gold and Stephen Vargas of Friedman Vartolo LLP.
To learn more, click the link to read the details of the case.
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