Manhattan elite presumably wealthy residents are experiencing an increase in foreclosures. A New York Foreclosure Protection Bill now offers strong protection that could stop foreclosures.
Clinton or Chelsea, 10019 zip code are being hit with an alarming rate of first-time foreclosures for New York’s Manhattan elite residents.
It’s reported that 20 first-time foreclosures last year took place in the 10019 zip code, which represented 13% of the borough’s yearly total amount of foreclosure filings for the area.
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That’s a massive number of people who are not expected to be experiencing any financial problems.
“These are called the rich foreclosures and essentially not gaining any sympathy.”
Often mortgage lenders don’t have proper paperwork for Standing needed, in order to foreclose and take back properties.
However, elite residents are shamed into not challenging their mortgage lenders on a lack of Standing issues.
There is more compassion for New York areas like Brooklyn and Queens, especially when it comes to foreclosure lawsuits.
On December 23rd, 2019 the “New York Governor Andrew Cuomo” signed this new bill that is intended to help all defendants in foreclosure court right now and can be used at any time during a foreclosure lawsuit.
In the state of New York, 1 in 21 homes are in foreclosure and another 1 in 10 are at risk of foreclosure status.
The New York Foreclosure Protection Bill will allow Standing issues to be raised at any time during a foreclosure lawsuit.
This bill is an amendment to Article 13 in Real Property Actions & Proceedings that will now allow foreclosure defendants in New York more leeway to raise a defense of “Standing” in foreclosure matters.
Under the New York Foreclosure Protection Bill a new section 1302-a, permits a homeowner (the defendant) in a foreclosure suit to raise a defense of standing at any time in the litigation.
Prior to the New York Foreclosure Protection Bill, a foreclosure defendant must raise and challenge lenders on issues related to Standing within 30 days of the foreclosure lawsuit.
What can New York’s Manhattan elite residents do to stop foreclosures??
Get educated on how to use the New York Foreclosure Protection Bill, learn about strategies to raise Standing issues.
Order “How To Use New York Foreclosure Protection Bill: Stop Foreclosure Raising Lack Of Standing Defenses” available now on Amazon in Paperback or Kindle.
This book is already ranked among New Releases in Mortgages, Business Law Reference, and among other categories as a Best Seller!
Next, New York’s Manhattan elite residents need to get educated by ordering the introductory “New York Foreclosure Defense System Forms,” which can help to solve and train on securitization imperfections and lack of enforceable security interest against foreclosure actions in violations to Article 13 in Real Property Actions & Proceedings for ACTION TO FORECLOSE A MORTGAGE!
The template forms are comprised of statutes to use New York Foreclosure Protection Bill to raise Standing issues and supporting case laws for foreclosure defense strategies on Standing in violations to Article 13 in Real Property Actions & Proceedings for ACTION TO FORECLOSE A MORTGAGE.