A Brooklyn judge has rejected a borrower’s contention that a mortgage company should be precluded from pursuing a foreclosure because the company may have received funds from the federal Troubled Asset Relief Program.
“If this Court were to accept this defense, it would call into question the entire federal structure put in place by the Congress to respond to what defendants have described as the ‘international economic catastrophe,’” Brooklyn Supreme Court Justice Robert J. Miller wrote in Bayview Loan Services v. Avery Enterprises, 7226/09.”This Court declines to do so.”
The Brooklyn Supreme Court decision appears on page 41 of the print edition of today’s Law Journal.
