The plaintiff sought summary judgment on a mortgage shortfall claim against the defendant following the defendant's default on mortgage payments beginning in November 2023.
The defendant owned a four-unit apartment building that was subject to a first mortgage of approximately $1.5 million and a second mortgage of $180,000 held by the plaintiff.
After the defendant failed to make payments, the plaintiff made payments to the first mortgagee, obtained possession, and sold the property under power of sale for $1.935 million.
The sale proceeds, after deducting the first mortgage, expenses, and other costs, resulted in a shortfall of $118,325.92.
The defendant opposed the summary judgment motion, challenging the quantum and raising unsubstantiated allegations of intentional value depression.
The court granted summary judgment in favor of the plaintiff.
