To embed, copy and paste the code into your website or blog:
On December 28, 2020, New York passed a new law entitled the “COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020.” The act places a moratorium on COVID-19-related residential real property mortgage foreclosure actions and residential eviction proceedings until May 1, 2021, where a tenant or homeowner has submitted a “hardship declaration” to the foreclosing party, landlord, and/or the court. The act also places a stay on existing foreclosure actions or eviction proceedings for 60 days to give homeowners and renters an opportunity to declare hardship and gain protection from foreclosure or eviction until at least May 1, 2021. As detailed below, the act gives struggling homeowners and renters some breathing room while COVID-19 cases are at their peak, and it requires that notice will be given in the consumer’s preferred language.