Legal Question in Real Estate Law in New York
Is it legal to withhold the principal amount due on a privately held mortgage until all mortgage payments are current?
Asked on 4/28/14, 10:49 am
1 Answer from Attorneys
Kevin Connolly
Kevin J. Connolly
The question doesn't make sense unless this is a wraparound mortgage. If you paid your mortgagee and the mortgagee did not keep the underlying payments current, you certainly can withhold payments and you should engage counsel immediately since you can lose the property.
Answered on 5/01/14, 3:15 pm
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