New York Modifies Foreclosure Provisions

August 05, 2021

New York Senate Bill 5785 amends the real property actions and proceedings law, in relation to foreclosure of mortgages, to remove references to make the affirmative allegation provisions for high-cost loans and subprime home loans applicable to foreclosures of residential mortgages covering one to four-family dwellings effective January 1, 2022.

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