In one of her first acts as Governor of New York, newly appointed Governor Kathy Hochul called for a “Special” legislative session on September 1, 2021, to extend the moratorium on foreclosure and eviction actions provided...more
9/7/2021
/ Coronavirus/COVID-19 ,
Eviction ,
Foreclosure ,
Infectious Diseases ,
Landlords ,
Moratorium ,
Relief Measures ,
Rent ,
Rental Property ,
State and Local Government ,
Tenants
As described in Locke Lord’s previous QuickStudies, New York’s state and federal courts quickly transformed their procedures and operations as a result of the onset of the COVID-19 pandemic. Now, as more residents across New...more
On May 3, 2021, the New York State Senate voted to extend the moratorium on foreclosure and eviction actions provided in the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 (S.9114/A.11181)(the “Eviction...more
After several years of inconsistent decisions involving New York’s six-year statute of limitations for mortgage foreclosure actions, the New York Court of Appeals took the bull by the horns and issued a groundbreaking...more
While New York courts continue to hear cases involving defaulted loan obligations stemming from the 2008 financial crisis, on January 5, 2021, the New York Court of Appeals heard arguments on four related cases involving New...more
While it is common knowledge in New York that the statute of limitations to collect a debt is six years from the time of acceleration, in a recent decision the Appellate Division, Third Judicial Department opened up the...more
With mortgage delinquencies nearly doubling during the pandemic and serious delinquencies (mortgages more than 90 days past due) increasing to levels not seen since 2008, the Second Circuit offered some reprieve to Government...more