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Foreclosure › New York › Mortgages

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

Cadwalader, Wickersham & Taft LLP

Firmly Fixated With Allonges - REF News & Views

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In a recent decision by the Supreme Court of the State of New York in Kings County (the Court), HSBC Bank USA, N.A. (the Plaintiff) initiated a mortgage foreclosure action against Jack and Sabah Srugo (collectively, the...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

Cadwalader, Wickersham & Taft LLP

All Along the Watchtower: Awaiting the Ruling on FAPA’s Retroactive Reach

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In a recent case, E. Fork Funding LLC v. U.S. Bank, Nat’l Ass’n, the United States Court of Appeals for the Second Circuit has certified a novel question for the New York Court of Appeals ("NYCOA"): Whether Sections 4 and/or...more

Hinshaw & Culbertson - Consumer Crossroads

Tips on Using a Settlement Conference RJI to Show CPLR 3215(c) Compliance in New York Foreclosure Actions

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In New York civil actions, where a defendant fails to answer the complaint, the next step is usually a motion for a default judgment pursuant to CPLR 3215. However, in residential mortgage foreclosure actions, the plaintiff...more

Alston & Bird

Fannie Mae Issues Guidance in Response to New York Foreclosure Abuse Prevention Act

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What Happened? On March 13, 2024, Fannie Mae issued Servicing Guide Announcement (SVC-2024-02) (the “Announcement”), which announced, among other things, updates to Fannie Mae’s Loan Modification Agreement (Form 3179), with...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

Orrick, Herrington & Sutcliffe LLP

NY restricts lenders’ ability to reset statute of limitations on foreclosures

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In December, the New York governor signed A 7737-B, the “Foreclosure Abuse Prevention Act,” which amends the rights of parties in foreclosure actions....more

Mayer Brown

New York Enacts Retroactive Foreclosure Legislation

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While many around the world are setting their calendars forward for the year 2023, residential mortgage loan owners and servicers may need to also look backward in time now that New York Governor Kathy Hochul signed the...more

Bradley Arant Boult Cummings LLP

New York Clarifies Mortgage Loan Acceleration and De-Acceleration: Starting and Stopping the Limitations Clock

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On February 18, 2021, the New York Court of Appeals’ consolidated resolution of four cases that answered two critical questions concerning the application of the statute of limitations in New York mortgage foreclosure...more

Harris Beach Murtha PLLC

New York State Court of Appeals Provides Guidance on Acceleration in Foreclosure Cases

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The New York State Court of Appeals recently provided much needed guidance to mortgagees on the issue of acceleration and determining the commencement date for the statute of limitation after acceleration in the decision...more

Alston & Bird

New York State Revises Restrictive HECM Foreclosure Law

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A&B ABstract - On December 15, 2020, New York State enacted legislation amending the New York Real Property Law that would have placed various restrictions and requirements on the servicing of Home Equity Conversion Mortgages...more

Bradley Arant Boult Cummings LLP

New York Enacts a Moratorium on COVID-19-Related Residential Evictions and Foreclosures

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On December 28, 2020, New York passed a new law entitled the “COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020.” The act places a moratorium on COVID-19-related residential real property mortgage foreclosure...more

Hinshaw & Culbertson - Consumer Crossroads

New York State Passes Eviction and Foreclosure Moratorium Protecting Renters, Homeowners, and Small Landlords

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On Monday, December 28, 2020, Governor Andrew Cuomo signed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020. Among other things, this legislation (S.9114/A.11181) extends certain residential foreclosure...more

Hinshaw & Culbertson - Consumer Crossroads

New York Courts Lift Suspension of Foreclosure Proceedings, Add Additional Conference Requirement

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On July 24, 2020, the New York State Courts issued Administrative Order 157/20 (AO/157/20). Effective July 27, 2020, AO/157/20 removes the formal suspension of all residential foreclosures, but keeps a limited suspension of...more

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