§ 1303. Foreclosures; required notices. 1. The foreclosing party in a
mortgage foreclosure action, involving residential real property shall
provide notice to:

(a) any mortgagor if the action relates to an owner-occupied
one-to-four family dwelling; and

(b) any tenant of a dwelling unit in accordance with the provisions of
this section.

2. The notice to any mortgagor required by paragraph (a) of
subdivision one of this section shall be delivered with the summons and
complaint. Such notice shall be in bold, fourteen-point type and shall
be printed on colored paper that is other than the color of the summons
and complaint, and the title of the notice shall be in bold,
twenty-point type. The notice shall be on its own page.

3. The notice to any mortgagor required by paragraph (a) of
subdivision one of this section shall appear as follows:

Help for Homeowners in Foreclosure

New York State Law requires that we send you this notice about the
foreclosure process. Please read it carefully.
Summons and Complaint

You are in danger of losing your home. If you fail to respond to the
summons and complaint in this foreclosure action, you may lose your
home. Please read the summons and complaint carefully. You should
immediately contact an attorney or your local legal aid office to obtain
advice on how to protect yourself.
Sources of Information and Assistance

The State encourages you to become informed about your options in
foreclosure. In addition to seeking assistance from an attorney or legal
aid office, there are government agencies and non-profit organizations
that you may contact for information about possible options, including
trying to work with your lender during this process.

To locate an entity near you, you may call the toll-free helpline
maintained by the New York State Department of Financial Services at
(enter number) or visit the Department's website at (enter web address).

Rights and Obligations
YOU ARE NOT REQUIRED TO LEAVE YOUR HOME AT THIS TIME. You have the right
to stay in your home during the foreclosure process. You are not
required to leave your home unless and until your property is sold at
auction pursuant to a judgment of foreclosure and sale.
Regardless of whether you choose to remain in your home, YOU ARE
REQUIRED TO TAKE CARE OF YOUR PROPERTY and pay property taxes in
accordance with state and local law.
Foreclosure rescue scams

Be careful of people who approach you with offers to "save" your home.
There are individuals who watch for notices of foreclosure actions in
order to unfairly profit from a homeowner's distress. You should be
extremely careful about any such promises and any suggestions that you
pay them a fee or sign over your deed. State law requires anyone
offering such services for profit to enter into a contract which fully
describes the services they will perform and fees they will charge, and
which prohibits them from taking any money from you until they have
completed all such promised services.

3-a. No later than sixty days after the effective date of this
subdivision, the department of financial services shall publish a
Consumer Bill Of Rights, in consultation with all stakeholders, which
shall detail the rights and responsibilities of the plaintiff and
defendant in a foreclosure proceeding. Such Bill of Rights shall be
updated on an annual basis and as appropriate.

4. The notice to any tenant required by paragraph (b) of subdivision
one of this section shall be delivered within ten days of the service of
the summons and complaint. Such notice shall be in bold, fourteen-point
type, and the paragraph of the notice beginning with the words "ALL
RENT-STABILIZED" and ending with the words "FULL HEARING IN COURT" shall
be printed entirely in capital letters and underlined. The foreclosing
party shall provide its name, address and telephone number on the
notice. The notice shall be printed on colored paper that is other than
the color of the summons and complaint, and the title of the notice
shall be in bold, twenty-point type. The notice shall be on its own
page. For buildings with fewer than five dwelling units, the notice
shall be delivered to the tenant, by certified mail, return receipt
requested, and by first-class mail to the tenant's address at the
property if the identity of the tenant is known to the plaintiff, and by
first-class mail delivered to "occupant" if the identity of the tenant
is not known to the plaintiff. For buildings with five or more dwelling
units, a legible copy of the notice shall be posted on the outside of
each entrance and exit of the building.

5. The notice required by paragraph (b) of subdivision one of this
section shall appear as follows:

Notice to Tenants of Buildings in Foreclosure

New York State Law requires that we provide you this notice about the
foreclosure process. Please read it carefully.

We, (name of foreclosing party), are the foreclosing party and are
located at (foreclosing party's address). We can be reached at
(foreclosing party's telephone number).

The dwelling where your apartment is located is the subject of a
foreclosure proceeding. If you have a lease, are not the owner of the
residence, and the lease requires payment of rent that at the time it
was entered into was not substantially less than the fair market rent
for the property, you may be entitled to remain in occupancy for the
remainder of your lease term. If you do not have a lease, you will be
entitled to remain in your home until ninety days after any person or
entity who acquires title to the property provides you with a notice as
required by section 1305 of the Real Property Actions and Proceedings
Law. The notice shall provide information regarding the name and address
of the new owner and your rights to remain in your home. These rights
are in addition to any others you may have if you are a subsidized
tenant under federal, state or local law or if you are a tenant subject
to rent control, rent stabilization or a federal statutory scheme.

ALL RENT-STABILIZED TENANTS AND RENT-CONTROLLED TENANTS ARE PROTECTED
UNDER THE RENT REGULATIONS WITH RESPECT TO EVICTION AND LEASE RENEWALS.
THESE RIGHTS ARE UNAFFECTED BY A BUILDING ENTERING FORECLOSURE STATUS.
THE TENANTS IN RENT-STABILIZED AND RENT-CONTROLLED BUILDINGS CONTINUE TO
BE AFFORDED THE SAME LEVEL OF PROTECTION EVEN THOUGH THE BUILDING IS THE
SUBJECT OF FORECLOSURE. EVICTIONS CAN ONLY OCCUR IN NEW YORK STATE
PURSUANT TO A COURT ORDER AND AFTER A FULL HEARING IN COURT.

If you need further information, please call the New York State
Department of Financial Services' toll-free helpline at (enter number)
or visit the Department's website at (enter web address).

6. The department of financial services shall prescribe the telephone
number and web address to be included in either notice.

7. The department of financial services shall post on its website or
otherwise make readily available the name and contact information of
government agencies or non-profit organizations that may be contacted by
mortgagors for information about the foreclosure process, including
maintaining a toll-free helpline to disseminate the information required
by this section.