Gmac Mortgage, LLC, Plaintiff-Respondent v. Tamilynn Willoughby, Defendant-Appellant

Summary

The Supreme Court of New Jersey held that the May 2010 foreclosure mediation settlement memorandum was a final, binding contract and therefore enforceable, reversing the Appellate Division’s finding that it was merely provisional. The Court applied a de novo standard of review to the contract interpretation and remanded for an appropriate equitable remedy, noting that specific performance was unavailable but damages may be awarded.