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In another article, law firm Blank Rome explains, “The New York Court of Appeals’ decision set bright-line rules that a noteholder’s voluntary discontinuance of a foreclosure action, in itself, revokes the acceleration of a mortgage debt, and a default letter stating that the debt ‘will’ be accelerated does not accelerate the debt.”
Mortgage holders involved in the four foreclosure cases at issue include Wells Fargo and Freedom Mortgage.
