As lenders and borrowers navigate this period of rising interest rates and uncertainty in the lending market, lenders are faced with increased pressure to find alternative sources for repayment, including enforcement of the various guaranties which are often present in real estate loans (e.g., completion guaranties, carry guaranties and non-recourse carveout guarantees).

In looking to enforce these guaranties, lenders have turned to the courts and New York State Civil Practice Law and Rule 3213 for a speedy resolution of such guaranty litigation.

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