Northeast Savings v. Rodriguez
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
Yesawich, Jr., J.
Defendant Mary Lou Rodriguez (hereinafter defendant) and her husband contracted with defendant T.J. Best Building & Remodeling, Inc. (hereinafter Best) to construct a single-family home to be completed by the end of September 1985. On December 5, 1985, Best executed a $187,500 building and construction loan to plaintiff to finance the project; the loan was secured by a mortgage on the property upon which defendant’s home was being built. Interest was payable monthly, and the balance was due on June 1, 1986. Although plaintiff advanced Best $142,000 under the loan, Best repaid…
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