Update: As noted, New York State enacted Banking Law §9-x on June 17, 2020 as a means of providing forbearance relief to mortgagors that were experiencing financial hardship as a result of the COVID-19 pandemic. Recently,...more
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
3/12/2021
/ Borrowers ,
Commercial Leases ,
Coronavirus/COVID-19 ,
Eviction ,
Foreclosure ,
Governor Cuomo ,
Landlords ,
Lenders ,
New Legislation ,
New York ,
Tenants
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