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New York passes foreclosure abuse prevention bill
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Legislative Developments
Monday, May 16, 2022
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The New York State Legislature passed legislation to address an ongoing problem with abuses of the judicial foreclosure process it feels has been exacerbated by court decisions that give mortgage lenders and loan servicers opportunities to avoid strict compliance with state statutes. The bill would clarify existing statutes, codify correct judicial applications of state statute. The bill awaits the governor’s signature.
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