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UPDATE – Zombie Foreclosures: Are they coming for you?

Due to the housing crisis of the past 5 years, efforts have been made to give homeowners every conceivable chance to avoid the foreclosures of their properties, so that they are not forced out of their homes. While well-intentioned, some of these provisions have resulted in unintended consequences. One such impact has been the rise of “zombie foreclosures.”

By |2018-10-29T19:00:49+00:00October 29th, 2018|Foreclosure|0 Comments

New York Reverse Mortgages: Pre-Foreclosure Notices & Settlement Conferences

New York now requires a notice prior to a foreclosure and mandatory settlement conferences. Reverse mortgages were previously not subject to these statutes.

By |2017-10-04T16:00:00+00:00October 4th, 2017|Foreclosure|0 Comments

Three “New” New York Foreclosure Laws Effective December 20, 2016

The number of New York vacant and abandoned houses in foreclosure have skyrocketed in the past few years as a result of the incredibly long foreclosure process in New York, causing a blight on residential neighborhoods and prompting outrage from local municipalities. (See my article - Zombie Foreclosures Are They Coming For You?

By |2017-04-25T20:20:02+00:00April 25th, 2017|Foreclosure|0 Comments

Prior Foreclosure Not An “Act of Acceleration”!

By now, most servicers are fully familiar with New York’s Statute of Limitations and the nuance that it only begins to run on each installment when it becomes due unless accelerated. (See my article about the Statute of Limitations).  

By |2017-04-17T18:16:15+00:00April 17th, 2017|Default Mortgage Services, Foreclosure|0 Comments

Foreclosure Actions – How Does Accelerating the Mortgage Affect the SOL?

My previous article regarding New York's Statute of Limitations (CPLR 213) described how New York provides an affirmative defense to actions based upon contractual obligations that accrued more than six (6) years ago.

By |2016-02-25T21:47:45+00:00February 25th, 2016|Foreclosure|0 Comments

Zombie Foreclosures: Are they coming for you?

Due to the housing crisis of the past 5 years, efforts have been made to give homeowners every conceivable chance to avoid the foreclosures of their properties, so that they are not forced out of their homes. While well-intentioned, some of these provisions have resulted in unintended consequences. One such impact has been the rise of “zombie foreclosures.”

By |2014-06-27T16:55:00+00:00June 27th, 2014|Foreclosure|0 Comments