Archives For: law
Proposed New York Bill Aims to Ban Plywood Property Boarding
NY A6519 was introduced in the The New York State Senate. The bill would prohibit the use of plywood, wood composite, wood veneer or similar wood-based products to secure any real property that is deemed vacant and abandoned.
19 Mar 2021
PA Registration Bill Would Require Foreclosed Property Maintenance
A proposed Pennsylvania bill (HB372) would require the registration of foreclosed properties with the local municipality. Once registered, foreclosing entities would be responsible for property maintenance.
3 Feb 2021
Proposed NY Bill Requires Maintenance of Tenant-Occupied Properties
NY S1579 would obligate mortgage foreclosure plaintiffs to maintain properties that are vacant or become vacant after commencement of the action, or abandoned by a mortgagor but occupied by a tenant, until transfer of ownership.
13 Jan 2021
NJ Registration Bill Would Require Visible Contact Info at Vacant Properties
A proposed New Jersey bill (A2877) would establish a municipal registration requirement for the owner/mortgage holder of all vacant residential/commercial properties.
7 Jan 2021
New York Bill Aims to Add Lender Requirement Prior to HECM Foreclosure
A5627/S4408 has passed the New York State Legislature. The proposed legislation would require an authorized lender that seeks to foreclose upon a reverse mortgage issued under the federal home equity conversion mortgage program to provide notice to the department of financial services and to the mortgagor.
22 Jul 2020
New York Bill Aims to Require Servicer Contact Info During Foreclosure
A.6976/S.4190 has passed the New York State Legislature. The proposed legislation would require a mortgage loan servicer’s name and phone number to be included at multiple points during foreclosure proceedings.
21 Jul 2020
New York Foreclosure Protection Law Signed by Governor
New York Governor Andrew Cuomo signed A.5619/S.5160 (An Act to amend the real property actions and proceedings law, in relation to the failure to raise the defense of lack of standing in a mortgage foreclosure action). The legislation amends Article 13 of the Real Property Actions and Proceedings Law to protect foreclosure court defendants by allowing more leeway to raise the defense of “standing”.
23 Dec 2019
Why the Pennsylvania Anti-Blight Bills Make Good Sense
DS News published an article discussing the passage of HB 653 and 667. Included are comments from late Safeguard Properties Founder Robert Klein from a November 2017 interview.
19 Jun 2018
Residential Redemption Laws Proposed in Two States
Recently, HB 90, HSB 531 and SSB 3053 were introduced in Alabama and Iowa.
30 Jan 2018