NY Law Requires New Pre-Foreclosure Notice for Reverse Mortgages
On April 12, 2018, the New York legislature enacted and Governor Cuomo signed, Assembly Bill 9508, a budget bill. Obscured in the budget bill was an amendment to New York law requiring reverse mortgage servicers to provide a pre-foreclosure notice at least 90 days before the mortgage loan servicer commences legal action against the borrower […]