Hurley v. Merowitz

As between herself and the defendant-guarantor of a 1985 promissory note secured by a mortgage,1 the plaintiff, Maty Hurley, had a 1991 agreement that rewrote the terms of the note and amortization schedule and increased the scope of the guaranty.2 The defendant defaulted on the note, and in October of 1993, the plaintiff foreclosed on the mortgage and purchased the property at the foreclosure sale. There remained a deficiency on the note that possibly exceeded the $28,199.99 allegedly covered by the 1991 guaranty agreement. The defendant failed to honor the agreement. This action by the…