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Foreclosure › New York › Lenders

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
Cadwalader, Wickersham & Taft LLP

Rates Stay Steady, Markets Are Steaming— Hot Fun in the Summertime, July 2025 - Integrated Amplifier: No-Appointment of a Receiver...

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In a recent decision in New York County Supreme Court, the Court granted the plaintiff lender’s pre-summary judgment motion to appoint a receiver in a mortgage foreclosure action, even though the defendants (borrower)...more

Troutman Pepper Locke

New York Court of Appeals to Review FAPA’s Constitutionality and Retroactive Application

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As a follow up to our May post, FAPA in the Spotlight Again: Second Circuit Renews Call for NY Court of Appeals Review, the New York Court of Appeals has finally agreed to consider New York’s Foreclosure Abuse Prevention...more

Hinshaw & Culbertson - Consumer Crossroads

Recent Cases Offer Instruction for Lenders on Avoiding FAPA Estoppel in Foreclosure or Quiet Title Actions in New York

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Under the Foreclosure Abuse Prevention Act (“FAPA”), effective as of December 30, 2022, a lender in a New York foreclosure or quiet title action can be estopped from asserting that the subject mortgage loan was not validly...more

Bradley Arant Boult Cummings LLP

New York Court of Appeals Finally Agrees to Hear Constitutional Challenges to FAPA

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After years of denying review, the New York Court of Appeals — the state’s highest court — agreed to address the question of whether New York’s momentous Foreclosure Abuse Prevention Act (FAPA) applies retroactively. On May...more

Hinshaw & Culbertson - Consumer Crossroads

New York Court of Appeals Accepts Certified Questions on Whether FAPA Should be Retroactively Applied

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The New York Court of Appeals has finally agreed to consider whether retroactive application of the Foreclosure Abuse Prevention Act (“FAPA”) (or sections of it) violates the New York Constitution. Over the last two years,...more

Troutman Pepper Locke

FAPA in the Spotlight Again: Second Circuit Renews Call for NY Court of Appeals Review

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The legal and constitutional implications of New York’s Foreclosure Abuse Prevention Act (FAPA) are back in the spotlight as the U.S. Court of Appeals for the Second Circuit again turns to the New York Court of Appeals for...more

Freiberger Haber LLP

The Second Department Holds That Lender Cannot Use CPLR 3215(c) to Avoid Dismissal of Foreclosure Action Despite Death of Borrower

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Today’s article relates to a decision in a mortgage foreclosure action that combines numerous concepts about which we have previously written....more

Shipman & Goodwin LLP

When Workouts Fail: Strategic Enforcement to Maximize Recovery

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Our new insightful and informative series, “Protecting Lenders: Strategic Responses to Borrower Default," is designed to provide comprehensive guidance on managing borrower defaults effectively. This four-part series covers...more

Freiberger Haber LLP

RPAPL 1501(4) and the Mortgagee in Possession Doctrine

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Today’s article addresses a property owner’s right to cancel a recorded mortgage pursuant to RPAPL 1501(4)[1] and whether a mortgagee is “is entitled to recover sums expended to preserve and maintain an allegedly abandoned...more

Falcon Rappaport & Berkman LLP

Foreclosure Process Clarification: No Pre-Foreclosure Notice Required to be Served on Appointed Estate Fiduciary for Deceased...

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In a significant legal victory for lenders, the Supreme Court of New York recently ruled in favor of our lender client in a residential foreclosure action against the estate of its borrower. This decision confirms that...more

White and Williams LLP

New York County Supreme Court Upholds Accommodation Pledges

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In recent years, the claim that an accommodation pledge attached to a mortgage loan effectively “clogs” a borrower’s right of redemption has been the basis of numerous civil actions in New York courts. With the case of Atlas...more

Cole Schotz

Balancing Mortgage and Mechanics Lien Priorities in New York

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In an ideal world, the interests of contractor and lender involved in the same construction project are aligned: the project succeeds, and everyone is paid what they’re owed. But when the interests of contractor and lender...more

Harris Beach Murtha PLLC

NY Court of Appeals Takes Sensible Approach to 90-Day Preforeclosure Notices

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On February 14, 2023, the New York Court of Appeals issued a ruling in Bank of America, NA v. Kessler, holding that the inclusion of concise and relevant additional information does not void an otherwise proper 90-day...more

Perkins Coie

The Foreclosure Abuse Prevention Act is Now Law

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On December 30, 2022, New York Governor Kathy Hochul signed into law the Foreclosure Abuse Prevention Act (FAPA) after the bill’s passage by both the New York state senate and the assembly. FAPA is a direct response to a New...more

Harris Beach Murtha PLLC

New York Enacts Law Limiting Lenders in Foreclosure Actions

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On December 30, 2022, New York Gov. Kathy Hochul signed into law the Foreclosure Abuse Prevention Act (the “Act”), which will hinder lenders and servicers’ ability to foreclose on New York homeowners. The Act makes the...more

Harris Beach Murtha PLLC

Help or Harm? New Legislation Aimed at Helping Tenants and Borrowers Impacted by COVID Causes Concern for Landlords and Lenders

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In his recent State of the State Address, New York Governor Andrew Cuomo indicated a desire to stay mortgage foreclosures, commercial evictions and foreclosures through May 1, 2021. On March 9, 2021, the Governor’s desires...more

McGlinchey Stafford

State COVID-related Foreclosure and Eviction Moratorium Updates

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Alert October 23, 2020 Due to the economic impacts of COVID-19, many states have issued moratoriums on foreclosures and evictions. Some of those moratoriums have expired. However, even if a lender is now able to obtain a...more

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