Capital One, N.A. v. Karp

*1055OPINION OF THE COURT

Terry Jane Ruderman, J.

Background

Plaintiff seeks to foreclose on a consolidated mortgage encumbering the residential property located at 1411 Purchase Street in Purchase, New York. The mortgage secures indebtedness under three loans taken by defendant Eileen Karp in the total principal amount of $1,500,000. The first of those loans was made on December 16, 1991, when Karp executed a note and mortgage in favor of Apple Bank for Savings, in the principal loan amount of $500,000, secured by the real property located at 1411 Purchase Street in Purchase, New York. Apple Bank…