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Defeated Negative Amortization Recordation Roadblock

Reason for retaining Adam Leitman Bailey, P.C.:

The insured could not record a mortgage and a Consolidation, Extension, and Modification Agreement (“CEMA”), thereby leaving the insured open to potential claims by lienors with liens actually inferior to the insured’s.


Adam Leitman Bailey, P.C. determined that the mortgage and CEMA reflected a negative amortization in Section 4 of the adjustable rate rider, and that the Suffolk County Clerk refused to accept them for recordation because the numeric amounts written on the documents did not properly reflect the potential maximum amount of monies owed.

In successfully protecting the insured’s interests, however, Adam Leitman Bailey, P.C. secured authorization from the clerk to record the documents without changing the numeric amounts, but, instead, by having the clerk, herself, hand-write the negative amortization numbers next to the original numbers, and the mortgage and CEMA were successfully recorded at the lowest possible cost for the best possible result.

Jackie Halpern Weinstein represented the title insurance company in this action in the county clerk’s office, Suffolk County.

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