East New York Savings Bank v. Imar Realty Co.

This action to foreclose a mortgage (which the defendant mortgagor herein moves to dismiss) is predicated *351upon defaults in the payment of installments of principal, such payment being due during the years 1933 and 1934. Admittedly there have been no defaults of any other character. Plaintiff seeks to escape the preclusive effect of the mortgage moratorium legislation and thus to justify the maintenance of the instant action by assailing the constitutionality of chapter 562 of the Laws of 1944-(eff. Apr. 5,1944). Such challenge is based upon allegations contained in the complaint that at the…