Assembly Bill A1850

2021-2022 Legislative Session

Relates to requiring notification by mortgagees commencing foreclosure actions to aid in the identification and improvements of at-risk properties

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2021-A1850 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
New York City Administrative Code
Laws Affected:
Amd §§27-2109.1 & 27-2130, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2017-2018: A6143
2019-2020: A698
2023-2024: A448

2021-A1850 (ACTIVE) - Summary

Relates to requiring written notification by mortgagees commencing foreclosure actions on a multiple dwelling with ten or more units to the department of housing preservation and development to aid in the identification and improvements of at-risk properties.

2021-A1850 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1850
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 11, 2021
                                ___________
 
 Introduced  by  M.  of  A. L. ROSENTHAL -- read once and referred to the
   Committee on Judiciary
 
 AN ACT to amend the administrative code of the  city  of  New  York,  in
   relation  to  requiring notification by mortgagees commencing foreclo-
   sure actions to aid in the identification and improvements of  at-risk
   properties

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 27-2109.1 of the administrative code of the city of
 New York is amended by adding a new subdivision d to read as follows:
   D. 1. ANY MORTGAGEE THAT COMMENCES AN ACTION IN A COURT  OF  COMPETENT
 JURISDICTION  IN  THE  STATE  OF  NEW  YORK TO FORECLOSE A MORTGAGE ON A
 MULTIPLE DWELLING WITH TEN OR MORE UNITS SHALL PROVIDE WRITTEN NOTICE TO
 THE DEPARTMENT WITHIN FIFTEEN DAYS OF SERVICE OF THE PLEADINGS  COMMENC-
 ING  SUCH ACTION. IF SUCH ACTION WAS COMMENCED BEFORE THE EFFECTIVE DATE
 OF THE LOCAL LAW THAT ADDED THIS SECTION, AND REMAINS PENDING AS OF SUCH
 EFFECTIVE DATE, NOTIFICATION SHALL BE PROVIDED  WITHIN  THIRTY  DAYS  OF
 SUCH  EFFECTIVE  DATE. FOR PURPOSES OF THIS SUBDIVISION DEPARTMENT SHALL
 MEAN THE DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT.
   2. SUCH NOTICE SHALL INCLUDE, BUT IS NOT  LIMITED  TO,  THE  FOLLOWING
 INFORMATION:  (I)  THE  NAME  OF THE MORTGAGEE PLAINTIFF COMMENCING SUCH
 ACTION AND THE MAILING ADDRESS, TELEPHONE NUMBER AND E-MAIL  ADDRESS  OF
 SUCH  MORTGAGEE PLAINTIFF, AND, WHEN APPLICABLE, THE NAME OF A PRINCIPAL
 OR CORPORATE OFFICER  OF  SUCH  MORTGAGEE  PLAINTIFF,  AND  THE  MAILING
 ADDRESS, TELEPHONE NUMBER AND E-MAIL ADDRESS OF SUCH PRINCIPAL OR CORPO-
 RATE  OFFICER;  (II)  THE  NAME,  MAILING  ADDRESS, TELEPHONE NUMBER AND
 E-MAIL ADDRESS OF THE DEFENDANT IN SUCH ACTION; (III) THE IDENTIFICATION
 OF SUCH RESIDENTIAL REAL PROPERTY BY STREET ADDRESS AND  BLOCK  AND  LOT
 NUMBER;  (IV) THE DATE OF THE COMMENCEMENT OF SUCH ACTION; (V) THE COURT
 IN WHICH SUCH ACTION WAS COMMENCED AND THE INDEX NUMBER OF SUCH  ACTION;
 (VI) THE PROPERTY'S APPRAISED FAIR MARKET VALUE; (VII) THE AMOUNT OF THE
 PRINCIPAL  BALANCE  OWED  UNDER THE MORTGAGE BEING FORECLOSED, INCLUDING
 INTEREST AND PRINCIPAL ARREARS, LATE FEES AND ANY  OTHER  SUMS  DUE  AND
 OWING  AS  OF  THE  DATE OF FILING OF THE COMPLAINT; (VIII) THE INTEREST
              

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