Bergman on Foreclosure: Deficiencies Have Critical 90-Day Window

When a foreclosure sale cannot fully recoup the debt, mortgage lenders and servicers have a ninety-day window of opportunity to make post-sale deficiency motions. In Cicero v. Aspen Hills II, LLC, 85 A.D.3d 1411, 926 N.Y.S.2d 680 (3d Dept. 2011) [enhanced version available to lexis.com subscribers], we have a convincing reminder of the need for attention to this very strict requirement in New York and for planning to get appraisal reports on time. In this Analysis, Bruce J. Bergman discusses deficiencies and the 90-day window. 

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