The settlement agreement acknowledged that VMD and BPS held junior mortgages and granted BPS the right to receive notices of default, as well as the right to cure. Subsequent to filing the complaint, CB Loan, AJ Petroleum, VMD and BPS entered into a settlement agreement.
VMD and BPS both held subordinate interests in that property. In its complaint, CB Loan sought to foreclose upon a first mortgage that it held on the subject property. Because VMD and BPS were not parties to the settlement agreement, we reverse.
Vmd services trial#
The trial court subsequently entered a final judgment of foreclosure pursuant to a settlement agreement entered into between only CB Loan and AJ Petroleum.
This case began with a mortgage foreclosure complaint filed by CB Loan Purchase Associates, LLC (“CB Loan”), against the first mortgagor, AJ Petroleum II, LLC (“AJ Petroleum”), and junior lien-holders, VMD Financial Services, Inc. Newburgh, P.A., Edgewater, New Jersey, for appellee CB Loan Purchase Associates, LLC. Hsu of Sosin & Hsu, P.L., Boca Raton, for appellants. d/b/a Robert Half Legal and d/b/a The Affiliates a/k/a Affiliates, a Delaware Corporation qualified to do business in Florida, David Hayes, Rosalee Rogovin, and Unknown Tenant, Appellees. CB LOAN PURCHASE ASSOCIATES, LLC, a New Jersey limited liability, AJ Petroleum II, LLC, a Florida Limited liability company, Flovest, LLC, a Florida limited liability company, Robert Half International, Inc.