News & Analysis as of September 18, 2024

Foreclosure › Administrative Orders

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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 -

New York Courts Will Allow Mortgagors to Continue Submitting Hardship Declarations to Extend the Stay of Residential Foreclosures

Hinshaw & Culbertson - Consumer Crossroads on 5/27/2021

On May 24, 2021, Chief Administrative Judge Lawrence Marks issued Administrative Order 159/21 (AO/159/21) to extend the stay of residential foreclosure actions through August 31, 2021, for cases in which the mortgagor submits...more

Courts: A Foreclosure Pandemic Pause? (Part 3)

Morrison & Foerster LLP on 3/23/2021

Since the start of the COVID-19 pandemic, borrowers and lenders alike have sought clarity regarding the permissibility of UCC foreclosure sales in the midst of the ongoing pandemic and the resulting economic fallout, as...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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Foreclosure › Administrative Orders

New York Courts Will Allow Mortgagors to Continue Submitting Hardship Declarations to Extend the Stay of Residential Foreclosures

Courts: A Foreclosure Pandemic Pause? (Part 3)

State COVID-related Foreclosure and Eviction Moratorium Updates

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