Union National Bank v. Johnson

Appeal from an order and judgment of the Supreme Court (Keegan, J.) entered November 3, 1993 in Albany County, which granted plaintiff’s motion for summary judgment, confirmed the amended report of the Referee and granted plaintiff’s motion for a deficiency judgment.

The mortgaged premises were purchased by defendant mortgagors in February 1986 for $195,000, a value that was *776confirmed by a real estate appraisal prior to the loan. The mortgage loan obtained from plaintiff was $156,000. When the required mortgage payments fell into arrears, plaintiff commenced this action for foreclosure.…