OPTION ONE MORTGAGE CORP. v. JPMORGAN CHASE & CO.

7062, 107675/10.

93 A.D.3d 480 (2012)

940 N.Y.S.2d 225

2012 NY Slip Op 1765

OPTION ONE MORTGAGE CORP., Respondent, v. JPMORGAN CHASE & CO. et al., Appellants, et al., Defendants.

Appellate Division of the Supreme Court of New York, First Department.

Decided March 13, 2012.


In this action arising from plaintiff's purchase of real estate at a foreclosure sale, the only basis for plaintiff's claim of entitlement to insurance proceeds paid to the previous owners of the home who cashed the insurance checks but failed to use the money to repair fire damage to the property, is pursuant to a paragraph of a mortgage entitled "Borrower's Obligation to Maintain Hazard Insurance or Property Insurance." However, bidding at a foreclosure sale and taking...

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