We affirm the determination that defendants are entitled to retain plaintiffs' down payment of $78,000, albeit not for the IAS Court's reason that plaintiffs had defaulted in responding to defendants' counterclaims for such relief. Plaintiffs applied for a mortgage of $990,000, far in excess of both the purchase price of $780,000 and the "first mortgage loan * * * of $600,000.00 or such lesser amount as Purchaser shall be willing to accept" called for in the contract's mortgage...
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