News & Analysis as of August 8, 2025

New York

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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 -

Stop! In the Name of Love…Err States’ Rights?

Cadwalader, Wickersham & Taft LLP on 3/27/2025

A recent decision by the United States District Court for the Northern District of New York (the “Court”) concluded that a federal court cannot prevent a state court foreclosure pursuant to the abstention doctrine set out by...more

New York Extends Moratorium On Residential And Small Business Evictions And Foreclosures

Morrison & Foerster LLP on 5/6/2021

On May 4, 2021, New York Governor Andrew Cuomo signed into law a bill passed by the New York State legislature extending to August 31, 2021 the existing eviction moratorium for residential tenants and independently owned...more

New York State Passes Legislation To Extend Eviction And Foreclosure Relief For Small Business Commercial Properties

Morrison & Foerster LLP on 3/19/2021

On March 9, 2021, New York Governor Andrew Cuomo signed into law the New York State COVID-19 Emergency Protect Our Small Businesses Act of 2021 (S471A/A3207) (the “Act”). After a full year of commercial tenants and commercial...more

Executive Order 202.70 Extends Moratorium on New York Commercial Evictions and Mortgage Foreclosures to January 2021

Kilpatrick on 10/26/2020

On October 20, 2020, New York Governor Andrew Cuomo issued Executive Order 202.70, which continued through January 1, 2021 the moratorium on initiating a proceeding or enforcement of (a) an eviction of any commercial tenant...more

State COVID-related Foreclosure and Eviction Moratorium Updates

McGlinchey Stafford on 10/23/2020

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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