The action must be commenced within six years, pursuant to CPLR 213[4]. Where the mortgage debt is payable in installments, a separate cause of action accrues for each installment that is not paid, and the limitations period begins to run on the date that each installment becomes due. However, even where a mortgage is payable in installments, once a mortgage debt is accelerated, the entire amount is due and the limitations period begins to run on the entire debt. Acceleration of a mortgage debt requires some affirmative action evidencing the holder's election to take advantage of the accelerating provision. Here, since the defendant failed to produce any evidence that the mortgage debt had been accelerated, she failed to demonstrate that the complaint was time-barred as to the recovery of any payments due, or advances made, on or after October 13, 2012.
Citibank, N.A. v. Jones, NY Slip Op 04533 (2d Dep't July 13, 2022)
