New York foreclosure bills would destroy a key consumer right
Posted onAuthorTammy DiazComments Off on New York foreclosure bills would destroy a key consumer right
By Adam Swanson (April 12, 2022, 5:11 p.m. EDT) – New York SB 5473D and its companion, AB 7737B – collectively dubbed the Foreclosure Abuse Prevention Act – if passed, would harm consumer lenders and borrowers.
Because the bills end a lender’s right to cancel a mortgage acceleration after default and prevent the statute of limitations to enforce the mortgage from building up, the bills unnecessarily complicate and will, therefore, hamper loss mitigation efforts to keep homeowners in their homes.
Post-default loss mitigation aimed at homeowners keeping their homes is now a standard goal and requirement of the Consumer Financial Protection Bureau and other regulators, but bills make it…
Stay one step ahead
In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.
Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and more!
The situation in and around the Ramna Kali Mandir and Ma Anandamoyee Ashram near the University of Dhaka campus was terribly disturbing. Some 75 Hindu families living there were gripped with fear after hearing heavy gunfire and news of murders of students and teachers at Jagannath Hall, a non-Muslim DU dormitory, the day before March […]
Plagued by fraud and unsustainable business models, recent policy directions and new funding could prove to be the double boost needed to strengthen the sector in 2022 Despite the setbacks, which were plentiful in 2021, the e-commerce industry has consistently seen growth, supported by continued improvements in online banking and fintechs and the rise of […]
My parents, 90, disabled and visually impaired, ordered a TV from their local John Lewis store and paid for delivery and installation. Two days after installation, the screen went blank. My dad called the store and was told he had to report the defect through the website. In vain, he explained that he could not […]