Friday, April 8, 2016

ON MORTGAGE SETTLEMENT CONFERENCES


From the Empire Justice Center:

"New Yorkers for Responsible Lending (NYRL) has released a report titled “Divergent Paths: The need for more uniform standards and practices in New York State’s residential foreclosure conference process” which exposes wide variations in the way foreclosure settlement conference rules are implemented, leaving tens of thousands of New Yorkers at heightened risk of losing their homes depending on how settlement conferences are being run where they live. 

When the outcome of your case – whether or not you get to stay in your home – depends on where you live, it becomes very clear that stronger enforcement and clarification of the rules is vital.

Almost 90,000 homeowners across New York State were still in foreclosure as of October 2015 - making settlement conferences just as important now as they were at the height of the foreclosure crisis."


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