The statute of limitations began to run on November 20, 2009, upon the prior mortgagee's commencement of the initial foreclosure action and acceleration of the loan. However, plaintiff, who is the assignee of the mortgage, clearly and validly revoked the acceleration of the loan on November 19, 2015, when it sent a letter informing the mortgagor that the loan was "hereby de-accelerated" and that "immediate payment of all sums owed is hereby withdrawn and the Loan is re-instituted as an installment loan." As the action was commenced within six years of the de-acceleration of the loan, the action is timely, pursuant to CPLR 213(4). The affirmative defense is dismissed.
21st Mtge. Corp. v. Jin Lin, NY Slip Op 06076 (1st Dep't November 1, 2022)
