US Bank Trust National Association, Etc. v. Binyomin Rabinowitz

CourtNew Jersey Superior Court Appellate Division
DecidedJune 18, 2026
DocketA-2359-24
StatusUnpublished

This text of US Bank Trust National Association, Etc. v. Binyomin Rabinowitz (US Bank Trust National Association, Etc. v. Binyomin Rabinowitz) is published on Counsel Stack Legal Research, covering New Jersey Superior Court Appellate Division primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
US Bank Trust National Association, Etc. v. Binyomin Rabinowitz, (N.J. Ct. App. 2026).

Opinion

NOT FOR PUBLICATION WITHOUT THE APPROVAL OF THE APPELLATE DIVISION This opinion shall not "constitute precedent or be binding upon any court ." Although it is posted on the internet, this opinion is binding only on the parties in the case and its use in other cases is limited . R. 1:36-3.

SUPERIOR COURT OF NEW JERSEY APPELLATE DIVISION DOCKET NO. A-2359-24

US BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity but solely as owner Trustee for VRMTG ASSET TRUST,

Plaintiff-Respondent,

v.

BINYOMIN RABINOWITZ,

Defendant-Appellant,

and

MRS. RABINOWITZ, spouse of BINYOMIN RABINOWITZ, POINT BAY FUEL INC., and AMERICAN EXPRESS BANK, FSB,

Defendants. ________________________________

Argued April 28, 2026 – Decided June 18, 2026

Before Judges Gooden Brown and Rosero. On appeal from the Superior Court of New Jersey, Chancery Division, Monmouth County, Docket No. F-008762-23.

Steven W. Griegel argued the cause for appellant (Roselli Griegel Lozier, PC, attorneys; Steven W. Griegel, on the brief).

Quenten E. Gilliam argued the cause for respondent (Friedman Vartolo LLP, attorneys; Quenten E. Gilliam, of counsel and on the brief).

PER CURIAM

In this foreclosure action, defendant Binyomin1 Rabinowitz appeals from

Chancery Division orders dated January 27 and April 2, 2025, denying his Rule

4:50-1 motions to vacate a default judgment and denying reconsideration in

favor of plaintiff US Bank Trust National Association, not in its individual

capacity but solely as owner trustee for VRMTG Asset Trust (VRMTG).

Defendant also appeals the initial December 2, 2024 default judgment. We

affirm.

I.

We glean these facts from the record. On July 11, 2007, defendant

executed a mortgage note for $260,000 in favor of Fairmont Funding, LTD,

1 Throughout the record, defendant's name is spelled both "Binyon" and "Binyomin." A-2359-24 2 secured by leased property located in Howell. The mortgage was recorded in

the Monmouth County Clerk's Office on July 25, 2007.

Numerous assignments took place between 2011 and 2019. Mortgage

Electronic Registration Systems, Inc., as nominee for Fairmont, assigned the

mortgage to GMAC Mortgage, LLC (GMAC), on November 8, 2011, which

assignment was recorded on December 16, 2011. GMAC then assigned the

mortgage to Ocwen Loan Servicing, LLC (Ocwen), on April 26, 2013, which

assignment was recorded on May 13, 2013. Ocwen's successor by merger, PHH

Mortgage Corporation, ultimately assigned the mortgage to Select Portfolio

Servicing, Inc. (SPS) on July 2, 2019, which assignment was recorded on July

18, 2019.2

On or about July 20, 2021, defendant entered into a payment deferral

agreement whereby monthly payments of principal, interest, and other amounts

totaling $24,213.85 were deferred until the maturity or pay off of the loan.

Defendant then failed to make his January 1, 2022 mortgage payment.

Subsequently, defendant submitted an application to SPS for a loss mitigation

2 Prior to the assignment, defendant executed a loan modification agreement with Ocwen on March 12, 2018. The agreement established the principal amount due as $315,927.49, reduced the per annum interest rate to 4% , and extended the maturity date of the mortgage loan to December 1, 2057. A-2359-24 3 program and, in a letter dated December 7, 2022, was informed he was

"[a]pproved for a Trial Period Plan to [m]odify [his m]ortgage [p]ayment."

The terms of the Trial Period Plan required defendant "to make three

monthly payments in the amount of $1,861.46." The letter further stated if

defendant "follow[ed] the terms of the [T]rial [P]eriod [P]lan, [his] mortgage

[would] be permanently modified." The modification would establish the

principal amount due as $351,455.91 and retain the current interest rate of 4%,

fixed for forty years from the date the modification was effective.

The letter outlined three steps for defendant to take to complete the plan:

first, to "suspend foreclosure proceedings," defendant was required to contact

SPS by January 1, 2023, "to indicate [his] intent to accept th[e] offer"; second,

to "[a]ccept [t]h[e] offer," defendant was required to make the first Trial Period

Plan payment by January 1, 2023; third, to "successfully complete the Trial

Period Plan," defendant was required to make the second payment by February

1, 2023, and the third payment by March 1, 2023.

The letter further informed defendant:

Once you have successfully made each of the payments above by the respective due dates, you have submitted the required signed copies of your modification agreement, you otherwise remain eligible for the modification, and we have signed the modification agreement, your mortgage will be permanently

A-2359-24 4 modified in accordance with the terms of your modification agreement.

. . . [SPS] must receive each payment in the month in which it is due. If you miss a payment or do not fulfill any other terms of your Trial Period Plan, this offer will end and your mortgage loan will not be modified.

[(Emphasis omitted.)]

SPS also "reserve[d] the right to revoke th[e] offer or terminate the plan

following [defendant's] acceptance if [SPS] learn[ed] of information that would

make [him] ineligible for the Trial Period Plan," and specified that all other

"terms of [defendant’s] existing note and all mortgage requirements remain[ed]

in effect and unchanged during the Trial Period Plan."

Defendant made the first three payments of the Trial Period Plan and was

approved for a final loan modification on March 27, 2023. In a letter dated April

21, 2023, SPS notified defendant the loan modification would not be effectuated

unless he returned the signed modification documents. The letter informed

defendant:

As of the date of this letter we have not yet received back your signed modification agreement. It is a requirement that a signed modification agreement be received. If we do not receive your signed modification agreement by 05/05/2023[,] we will consider this as your non-acceptance of the modification and we will close out your request. This means your loan terms will revert . . . to the terms prior to the [m]odification. IT

A-2359-24 5 IS IMPERATIVE THAT YOU RETURN THE SIGNED MODIFICATION DOCUMENTS IMMEDIATELY. Failure to return the signed agreement by the date specified will result in your loss of your affordable payment[] and could result in your account being referred for future legal action.

A second letter was sent on May 11, 2023, informing defendant that his request

for loss mitigation assistance was considered "withdrawn," because he failed to

"accept the offer . . . by the established deadline."

In late July 2023, SPS filed a foreclosure complaint against defendant.

After numerous attempts to serve defendant personally, on August 10, 2023,

SPS served defendant with the summons and complaint via publication in the

Asbury Park Press. See R. 4:4-5(a)(3) (governing service by publication of

notice to absent defendants). SPS also mailed defendant the publication notice

along with mediation documents.3

Defendant failed to answer the complaint or timely appear within thirty-

five days after publication. See R. 4:6-1(a). SPS requested default on November

3, 2023, which was ultimately entered. See R. 4:43-1. On December 20, 2023,

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