Category: GOL 5-521

First Department Reverses, Inter Alia, Judgment of Foreclosure and Sale, Finding Questions of Fact As To Whether LLC Was Formed Solely To Avoid Usury Laws

Jan 17 2025

By: Jonathan H. Freiberger As readers of this BLOG know, we frequently address issues involving mortgage foreclosure and usury.[1] Today’s article involves both issues. By way of background, and as …

Mar 8 2024

By Jonathan H. Freiberger Folks have general notions about usury. However, there are many nuances to the application of the usury laws in New York. This BLOG has previously written …

Dec 27 2021

By Jonathan H. Freiberger Generally speaking, usury statutes prevent excessive interest from being charged on a loan. The New York Court of Appeals has noted that “[s]tatutes prohibiting usurious loans …

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Category: GOL 5-521

First Department Reverses, Inter Alia, Judgment of Foreclosure and Sale, Finding Questions of Fact As To Whether LLC Was Formed Solely To Avoid Usury Laws

SECOND DEPARTMENT FINDS LOAN IS NOT SUBJECT TO USURY LAWS BECAUSE PRINCIPAL VALUE EXCEEDS $2,500,000

Usury