Bill to stop foreclosures heads to Hochul, under heavy pushback from banks
The state legislature has passed a measure intended to counter a court ruling that made it easier for lenders to win cases against homeowners. Sponsors say industry warnings about unintended consequences are overblown.
This article was originally published on by THE CITY.
Some homeowners facing foreclosure stand to get relief under a bill passed by the state legislature and now heading to Gov. Kathy Hochul’s desk for either a signature or veto — and she’s not saying which.
The measure takes aim at a Feb. 2021 decision from the New York Court of Appeals, the highest court in New York State, that reopened hundreds of foreclosure cases that homeowners thought they had won because lenders missed a key deadline.