DocketNumber: No. CV 99 0068817 S
Citation Numbers: 2001 Conn. Super. Ct. 5066
Judges: KLACZAK, JUDGE.
Filed Date: 4/10/2001
Status: Non-Precedential
Modified Date: 7/5/2016
There was a second mortgage of the property to the First National Bank of New England ("FNBNE") and the defendant Fleet Bank ("Fleet") has been substituted for FNBNE. The junior encumbrancer, FNBNE, obtained a judgment of strict foreclosure and its successor, Fleet, is now defending the plaintiff's attempt to foreclose on its first mortgage.
By special defense, Fleet contends the notice of default and acceleration of the note was defective.
The plaintiff argues that, as a junior encumbrancer, Fleet is not entitled to raise the defense, and in the alternative, it has established liability
The Court agrees with the plaintiff.
Our Supreme Court has held that a first mortgagee owes only a duty of good faith to a subordinate mortgagee. Connecticut Bank Trust Co. v.Carriage Lane Associates,
In any event, evidence was presented at the trial of compliance by the plaintiff with the provisions of the note concerning default and compliance. The original note provides in the event of default, that the borrower is entitled to written notice of the overdue amount with thirty days to make past due payments and be reinstated.
The notice letter (Exhibit 10) substantially complied with the notice requirement. It stated the amount past due and specified the amount due within thirty days (which included the monthly payment due in the interim).
The parties, having agreed to bifurcate the issue of liability from the final judgment, in view of the findings made herein, this matter should be scheduled for short calendar to establish the debt, fair market value and law days.
Klaczak, J.