Citi MortgageMortgage Citi
Brian McCaffrey, Esq., the homeowner's lawyer, then went on to appeal the limitation period and filed suit against Kitimortgage, Inc. asking the court to invalidate the mortgage and have it deleted from the state register. MacCaffrey filed suit against Coitimortgage on the owner's own account, arguing that this "de-acceleration" was not permitted and that the mail had no effect.
Mr. Modica asked Judge Modica for a verdict that the mortgage was void and asked the judge to instruct the District Secretary to terminate the mortgage. New York State creditors have a finite period of grace to initiate enforcement proceedings against overdue debtors. The New York Act stipulates that lawsuits for a "mortgage on the property" must be filed within six years.
According to the Appellate Division of the 2nd Department of the Supreme Court of the State of New York in the case Zinker v. Makler, 298 AD 2d 516 (NY Appellate Div., 2nd Dept. 2002), this limitation period in an enforcement suit begins. On 17 March 2009, in the case of Creditor Commitment, the creditor commenced enforcement proceedings and McCaffrey was able to close the case.
Limitation began on 17 March 2009 and ended on 17 March 2015. Attempting to bypass the limitation period on 13 March 2009, Mr Chitimortgage sent a note claiming to decelerate the mortgage - an effort McCaffrey's company refused in a written statement.
Court upheld McCaffrey and deleted the legitimortgage from the deed.