Newtown Savings Bank v. Edward Cleveland (2010)

MEMORANDUM OF DECISION ON PLAINTIFF'S MOTION FOR DEFICIENCY JUDGMENT

A judgment of strict foreclosure having entered in this action on April 26, 2010, and the court having set the law day for the owner of the equity on July 6, 2010, and the owner having failed to redeem, said case came thence to July 28, 2010, when the plaintiff filed a Motion for Deficiency Judgment, and thence to August 23, 2010, when the parties appeared and were heard at hearing.

The court having heard the evidence, finds as follows:  that title to the subject premises vested in the plaintiff on July 7, 2010.   The plaintiffs' claim consists of the judgment debt as of the date of judgment of strict foreclosure in the amount of $383,059.66 plus attorneys fees awarded by the court as of the date of judgment of $3,750.00 plus appraisal fees of $700.00 plus title search fee of $225.00 plus interest from the date of judgment to the date of title vesting (72 days at $62.32 per day) of $4,487.04, plus additional costs of $640.20, plus statutory interest on the deficiency from the date of vesting to today (50 days at $21.33 per day) of $1,066.50, plus additional attorneys fees of $600.00 and appraisal fee of $375.00 for the present motion for a total of $394,903.40.   The court finds the fair market value of the property as of the date title vested to be $315,000.00.   Therefore, the deficiency judgment is $79,903.40.

For all of the foregoing reasons, a deficiency judgment shall enter in favor of the plaintiff, Newtown Savings Bank, and against the defendant, Edward Cleveland, in the amount of $79,903.40.

Robert F. Vacchelli

Judge, Superior Court

Vacchelli, Robert F., J.