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WENDOVER FINANCIAL SERVS. v. RIDGEWAY

240 CA 14-01773.

137 A.D.3d 1718 (2016)

28 N.Y.S.3d 535

2016 NY Slip Op 02241

WENDOVER FINANCIAL SERVICES, Appellant, v. JO-ANN RIDGEWAY, as Executrix and Beneficiary under the Last Will and Testament of AMELIA DONVITO, Also Known as AMELIA C. DONVITO, Deceased, Respondent, et al., Defendants.

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

Decided March 25, 2016.

It is hereby ordered that the order so appealed from is unanimously affirmed without costs.

Memorandum: Plaintiff commenced this action to foreclose a reverse mortgage executed by decedent in 1999. "Reverse mortgages are designed to allow elderly homeowners to borrow money against the accumulated equity in their homes and, unlike traditional mortgages, `the borrower in a reverse mortgage receives periodic payments (or a lump sum) and need not repay the outstanding...

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