NY Legislature passes foreclosure protection bill
ALBANY — Legislation extending a series of protections for homeowners facing foreclosure is heading to Gov. Andrew Cuomo.
Under the bill, lenders will have to give homeowners 90 days' notice of foreclosure and offer mandatory settlement conferences.
The protections were first enacted in 2009 but were set to expire in February unless lawmakers voted to extend them.
The New York state Senate passed the measure June 10. The Assembly passed the bill last week.
Senate co-leader Jeffrey Klein, a Democrat, says the requirements in the bill are critical to helping the nearly 30,000 New York City homeowners facing foreclosure.
MUST READ NEWS
Sign up to get our newsletter emailed to you every week!
- Enter your email address in the box below.
- Select the newsletters you would like to subscribe to.
- Click the 'SUBSCRIBE' button.