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Foreclosure Law Appellate Court Opinion

by Zigadto, Janet


AC45904 - Stonybrook Gardens Cooperative, Inc. v. Newrez, LLC ("In this omitted party action commenced pursuant to General Statutes § 49-30, the defendant, NewRez, LLC (NewRez), formerly known as New Penn Financial, LLC, doing business as Shellpoint Mortgage Servicing, appeals from the judgment of the trial court denying its motion to open and vacate the judgment of strict foreclosure rendered in favor of the plaintiff, Stonybrook Gardens Cooperative, Inc., a unit owners' association, in connection with NewRez' mortgage on a unit in Stonybrook Gardens Cooperative in Stratford. On appeal, NewRez claims that the court incorrectly determined the amount that NewRez was required to pay to exercise its right of redemption on the basis of a flawed application of § 49-30 and General Statutes § 47-258 and, therefore, improperly denied its motion to open and vacate the foreclosure judgment. We conclude that the court's calculation of NewRez' redemption amount is inconsistent with § 47-258 (b) because it includes amounts other than those expressly permitted thereunder in calculating the plaintiff's priority debt. Accordingly, we reverse the judgment of the trial court as it pertains to the redemption amount.")