Deficiency Judgment in Foreclosure Action Time Barred

Plaintiff commenced an action to recover on a mortgage note. The parties conceded that the property’s foreclosure left a balance due. Plaintiff now sought to recover the balance between the loan amount and the amount recouped by the foreclosure sale. Because the action came five years after the foreclosure sale, it was time barred, as such an action must have been commenced within 90 days from the date of the closing of the foreclosure sale. The court dismissed the case even though the plaintiff styled the case as one for recovery on the notes as opposed to an attempt to recover a deficiency judgment. (September 2008)