360 LLC v. Oscar Marino et al. (2014)

MEMORANDUM OF DECISION ON PLAINTIFF'S MOTION FOR DEFICIENCY JUDGMENT

A judgment of strict foreclosure entered in this action on September 9, 2013.   The court set the law day for the defendants debtors and holders of the equity of redemption, Oscar and Lynne Marino, concerning two properties:  71 Lorraine Street, New Britain, CT and 35–37 Squire Street, Hartford, CT. The defendants, having failed to redeem, said case came thence to November 6, 2013, when the substitute plaintiff filed a motion for deficiency judgment, and thence to January 6, 2014, when the substitute plaintiff appeared at hearing on the motion, but the defendants did not.

The court, having considered the evidence, finds as follows:  With respect to 71 Lorraine Street, New Britain, CT, title to the subject property vested in the plaintiff on November 5, 2013.   The substitute plaintiff's claim consists of the judgment debt as of the date of judgment of strict foreclosure totaling of $759,753.61, plus attorneys fees awarded by the court as of the date of judgment of $2,000.00, plus appraiser's fees of $1,218.75, plus a title search fee of $107.50, plus interest from the date of judgment to the date of title vesting of $9,788.06, plus $762.50 for additional attorneys fees and $1,218.75 for additional appraiser's fees.   All other costs and expenses are either not document or are denied as not available by law.   The court will reduce the claim by $2,058.31 for funds collected by the receiver.   Thus, the total claim is $772,790.86.   The court finds the fair market value of the property as of the date title vested to be $177,000.00.   Therefore, the deficiency is $595,790.86.

With respect to 35–37 Squire Street, Hartford, CT, title to the subject property vested in the plaintiff on November 5, 2013.   The substitute plaintiff's claim consists of the judgment debt as of the date of judgment of strict foreclosure totaling of $365,536.95, plus attorneys fees awarded by the court as of the date of judgment of $2,000.00, plus appraiser's fees of $1,218.75, plus a title search fee of $107.50, plus interest from the date of judgment to the date of title vesting of $4,705.32, plus $762.50 for additional attorneys fees and $1,218.75 for additional appraiser's fees.   All other costs and expenses are either not documented or are denied as not available by law.   Thus, the total claim is $375,549.77.   The court finds the fair market value of the property as of the date title vested to be $43,000.00.   Therefore, the deficiency is $332,549.77.

For all of the foregoing reasons, a total deficiency judgment shall enter in favor of the substitute plaintiff, 360 Asset, LLC, and against the defendants, Oscar and Lynne Marino, jointly and severally, in the amount of $928,340.63.

Robert F. Vacchelli

Judge, Superior Court

Vacchelli, Robert F., J.