Governor Announces More Help For Homewners In Foreclosure

Governor Andrew M. Cuomo, on December 7, 2016, announced the Department of Financial Services has published a Consumer Bill of Rights for New Yorkers facing foreclosure. Additionally, DFS has also finalized a regulation protecting communities from the blight of “zombie properties” by requiring banks and mortgage servicers to report and maintain vacant and abandoned properties.

Both actions follow legislation the Governor signed in June that curbs the threat “zombie properties” pose to communities by expediting foreclosure proceedings, improving the efficiency and integrity of the mandatory settlement conferences, and obligating banks and mortgage servicers to secure, protect and maintain vacant and abandoned properties before and during foreclosure proceedings.  The complete announcement can be found here.

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