Kraus v. Mendelsohn

The defendant Daniel Mendelsohn is the owner of a single-family residence in Sea Cliff. In December 2006, Mendelsohn borrowed the sum of $300,000 from the plaintiff and, in connection therewith, he executed both a “balloon note,” reflecting his $300,000 indebtedness, and a mortgage on the Sea Cliff property, in favor of the plaintiff. Mendelsohn defaulted on the payment of the note, and the plaintiff commenced this action to foreclose the mortgage. Thereafter, Mendelsohn moved for summary judgment dismissing the complaint insofar as asserted against him arguing, inter alia, that the interest…