Description
Understand the frequent issues that arise, pitfalls to avoid, and common defenses to a foreclosure action in New York.New York is a judicial foreclosure state, meaning that the lender cannot foreclose on a home without filing a lawsuit in court. The proper path towards a foreclosure sale in New York States requires several compliance elements, both contractual and statutory. This process can be lengthy, with the majority of foreclosure actions taking over a year before going to a foreclosure sale. It is important to understand potential pitfalls in this process. The topics covered in this presentation will help guide persons responsible for commencing or defending foreclosure actions to understand the preforeclosure and pending foreclosure compliance requirements. This topic will also cover the role that COVID19 has played within the foreclosure context.
Date: 2021-08-31 Start Time: End Time:
Learning Objectives
Pre-Foreclosure Requirements
• What Is New York Residential Foreclosure?
• Statutory Requirements:
• RPAPL 1304 and 1306
• Contractual Requirement:
• 30-Day Notice
• Federal Requirement:
• CFPB Requirements
• Dual Tracking and Regulation X
• Standing Requirement:
• Note and Mortgage Ownership
• Naming Necessary Parties
• Statute of Limitations
Foreclosure
• Summons and Complaint Requirements
• CPLR 3012-b Certificate of Merit
• RPAPL 1302, 1303 and 1320
• CPLR 3408
Current Status With New York Foreclosures
• The Coronavirus Aid, Relief, and Economic Security (CARES) Act
• COVID-19 Emergency Eviction and Foreclosure Prevention Act (CEEFPA)
• Center for Disease Control (CDC) Moratorium
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Mary Aufrecht, Esq.-Clair Gjertsen & Weathers PLLC, Erin K. Flynn, Esq. – Clair Gjertsen & Weathers PLLC, Wendy Marie Weathers, Esq. – Clair Gjertsen & Weathers PLLC
