Metlife Capital Financial Corp. v. Washington Avenue Associates, L.P.

The opinion of the court was delivered by

PRESSLER, P.J.A.D.

This controversy arises out of a judgment of foreclosure obtained by the mortgagee’s assignee, plaintiff Metlife Capital Financial Corporation. The mortgagor, defendant Washington Avenue Associates, L.P., and its general partner, defendant Lawrence S. Berger, who have since redeemed without prejudice to the bringing of this appeal, challenged plaintiffs calculation of the amount due, asserting that (1) the contracted-for five percent late payment fee had been waived and, alternatively, that it constituted an unenforceable penalty, (2)…