Berkman Henoch Obtains Favorable Second Department Decision Regarding Conditions Precedent to Loan Modification Offer and Acceptance

Megan K. McNamara and Rajdai D. Singh, associates of the Firm’s Foreclosure Department, successfully defended The Bank Of New York Mellon F/K/A The Bank Of New York As Trustee For The Certificateholders Of Cwabs, Inc., Asset-Backed Certificates Series 2005-1 from an appeal filed by the defendant in a pending foreclosure action. The appeal stemmed from the denial of the defendant’s cross-motion, which sought summary judgment and dismissal of the action. The Second Department affirmed the Lower Court’s holding on the grounds that the defendant failed to make a prima facie showing of entitlement to judgment as a matter of law. Specifically, the Second Department held that the defendant did not demonstrate that she satisfied all conditions precedent as set forth in the modification offer to deem that the loan was modified.

A copy of the Second Department’s Order: Appellate Decision Second Department Decision Regarding Conditions Precedent To Loan Modification Offer And Acceptance