Foreclosure Abuse Prevention Act (FAPA) was signed into law by Governor Hochul on December 30, 2022.
This law intends to eliminate abusive and unlawful litigation tactics in mortgage foreclosure actions that manipulate the law and the courts in favor of mortgage bankers and servicers. What does this mean for homeowners? This means that the banks will not be able to continually discontinue and recommence a cause of action concerning mortgage foreclosures without strict adherence to New York’s six (6) years statute of limitations.
Clair Gjertsen & Weathers PLLC is available to answer any questions or concerns regarding this recent development as we have decades of experience in defending foreclosures. We invite you to contact us online or at 914-472-6202.
A copy of the bill is available here:
https://lnkd.in/etdKvvwV