Relates to providing notice to a homeowner whose property is being foreclosed that they do not have to abandon the property until the day of the foreclosure sale.
STATE OF NEW YORK
________________________________________________________________________
8559--B
Cal. No. 797
2015-2016 Regular Sessions
IN ASSEMBLY
October 30, 2015
___________
Introduced by M. of A. KEARNS, ABINANTI, GOTTFRIED, CERETTO, DiPIETRO,
McDONOUGH, SKOUFIS, JAFFEE, TEDISCO, SIMON, COLTON, PEOPLES-STOKES,
FAHY, McDONALD, CORWIN, SANTABARBARA, ORTIZ, JEAN-PIERRE, HOOPER,
ROBINSON, HYNDMAN, BICHOTTE, MOSLEY, GIGLIO, RICHARDSON, MAGNARELLI,
SEPULVEDA -- Multi-Sponsored by -- M. of A. GALEF, HAWLEY, MAGEE,
McLAUGHLIN, RAMOS, STECK -- read once and referred to the Committee on
Judiciary -- recommitted to the Committee on Judiciary in accordance
with Assembly Rule 3, sec. 2 -- committee discharged, bill amended,
ordered reprinted as amended and recommitted to said committee --
reported from committee, advanced to a third reading, amended and
ordered reprinted, retaining its place on the order of third reading
AN ACT to amend the real property actions and proceedings law, in
relation to providing notice to a homeowner whose property is being
foreclosed that they do not have to abandon the property until the
foreclosure process is complete
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 3 of section 1303 of the real property actions
2 and proceedings law, as amended by chapter 507 of the laws of 2009 and
3 as further amended by section 104 of part A of chapter 62 of the laws of
4 2011, is amended to read as follows:
5 3. The notice to any mortgagor required by paragraph (a) of subdivi-
6 sion one of this section shall appear as follows:
7 Help for Homeowners in Foreclosure
8 New York State Law requires that we send you this notice about the
9 foreclosure process. Please read it carefully.
10 Summons and Complaint
11 You are in danger of losing your home. If you fail to respond to the
12 summons and complaint in this foreclosure action, you may lose your
13 home. Please note: You have the right to remain in your home until you
14 receive a court order telling you to leave the property. This is not an
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11954-07-6
A. 8559--B 2
1 eviction notice and you still have the right to remain in the home until
2 a court orders you to leave. You legally remain the owner of and are
3 responsible for the property until the property is sold by you or by
4 order of the court at the conclusion of this foreclosure action. If you
5 live in the property you have a right to a settlement conference in
6 court at which you can try to negotiate a loan modification that will
7 permit you to keep your home.
8 Please read the summons and complaint carefully. You should immediate-
9 ly contact an attorney or your local legal aid office to obtain advice
10 on how to protect yourself.
11 Sources of Information and Assistance
12 The State encourages you to become informed about your options in
13 foreclosure. In addition to seeking assistance from an attorney or legal
14 aid office, there are government agencies and non-profit organizations
15 that you may contact for information about possible options, including
16 trying to work with your lender during this process.
17 To locate an entity near you, you may call the toll-free helpline
18 maintained by the New York State Department of Financial Services at
19 (enter number) or visit the Department's website at (enter web address).
20 Foreclosure rescue scams
21 Be careful of people who approach you with offers to "save" your home.
22 There are individuals who watch for notices of foreclosure actions in
23 order to unfairly profit from a homeowner's distress. You should be
24 extremely careful about any such promises and any suggestions that you
25 pay them a fee or sign over your deed. State law requires anyone offer-
26 ing such services for profit to enter into a contract which fully
27 describes the services they will perform and fees they will charge, and
28 which prohibits them from taking any money from you until they have
29 completed all such promised services.
30 § 2. This act shall take effect immediately.
