NEW YORK FORECLOSURE - SHADOW DOCKET BILL

In effect since August 30, the purpose of the law is to limit the number of foreclosure actions that fall into the "shadow docket".

The Empire Justice Center has recently posted an article on the new law and here is a link:

EJC - New York State Law Requires Certificate of Merit Filing with the Summons and Complaint in Residential Foreclosure Cases

NEW FORECLOSURE LAW FOR ACTION STARTED AUGUST 30

Earlier this month, Governor Cuomo signed into law an amendment to the CPLR, CPLR 3012-b ("Certificate of Merit" Law), which will require any lender intending to file a foreclosure complaint in New York to provide a certificate of merit at the start of the proceedings.

For more information, go to page 3 of the Nassau Suffolk Law Services newsletter for this month:

http://nslawservices.org/wp/wp-content/uploads/2013/08/august-2013-newsletter.pdf

NEW YORK MORTGAGE FORECLOSURE - THE SHADOW DOCKET

If you recall the May 31 blog on the press announcement by the New York State Attorney General's office on proposed legislation regarding the "shadow docket", yesterday, another press release was announced:

A.G. Schneiderman Sues HSBC For Holding Hundreds Of Struggling Homeowners In Legal Limbo

As the press release notes:

"Suit Alleges That By Failing To Follow New York Law, HSBC Has Trapped Hundreds Of New Yorkers Facing Foreclosure In The “Shadow Docket”

Schneiderman: The Law Is Clear And I Will Prosecute Any Lender That Denies New York Homeowners Their Legally Mandated Right To Negotiate Alternatives To Foreclosure"