Blomgren v. Tinton 763 Corp.

Breitel, J. P. (dissenting).

I dissent and vote to reverse and grant foreclosure. This is not a case involving solely the curing of a default but primarily the acceleration of the obligation to pay the entire debt.

The mortgage in suit is a purchase-money mortgage originally given to plaintiff’s close corporation, the grantor of Tinton 763 Corporation, the predecessor in title of defendant owner Southern Tinton Corp. At inception it was in the amount of $28,100 and at the time this action was begun it had been reduced to $25,357. It is junior in lien to a $61,Q00 first mortg-age which had been…