Nikola Nikola v. 2938 LLC (2012)

MEMORANDUM OF DECISION

This is a foreclosure action brought by the, plaintiff, Nikola Nikola, (Nikola) against the defendant's, 2938 Fairfield LLC and Naomi Drabkin (Drabkin).   The defendant 2938 Fairfield LLC is the owner of real property located at that address in Bridgeport.

The parties have stipulated that on July 1, 2000, 2938 Fairfield LLC executed and delivered a note in the amount of $135,000, plus a mortgage deed securing the Bridgeport property to the defendant, Drabkin.

On October 11, 2007 the plaintiff loaned Drabkin $140,000 for one year.   Payable at 13%.   As security for the loan, Drabkin assigned the plaintiff “the first $140,000 plus costs of all rights, title and interest in the July 2000 mortgage note on the Fairfield LLC's property.

On October 11, 2007, 2938 Fairfield LLC provided a mortgage deed to Drabkin on the property to secure a debt of $185,000.

The defendant Drabkin is currently in default of the full amount of the $140,000 loan plus interest.   In addition, Drabkin has filed a foreclosure action against 2938 Fairfield LLC, which is currently pending.

As Drabkin is in default as to the assigned mortgage and as holder of the assigned mortgage note the plaintiff justifiably accelerated the balance due and declared the note to be due in full plus interest and costs.   The court further finds that the plaintiff has standing to pursue this foreclosure action against 2938 Fairfield LLC.

The plaintiff is also seeking an order that any interest the defendant Drabkin may have been the subject property is subordinate to the first $140,000 plus interest and costs which is the portion of her interests assigned to the plaintiff.   The court agrees.

The plaintiff is awarded a judgment of foreclosure as to 2938 Fairfield LLC and money damages as to Drabkin with respect to any ultimate deficit in recovering the total amount due and owing under the $140,000 plus interest following the foreclosure proceedings.

The matter is to be assigned to the mortgage foreclosure docket for establishing proper values, costs, fees, expenses and schedules pursuant to the foreclosure judgment awarded plus orders necessary to enforce the plaintiff's right to damages from Drabkin for any deficit.

GILARDI, J.T.R.

Gilardi, Richard P., J.T.R.