In August of 2008 the legislature in New York passed a law which created a mandatory Foreclosure Settlement Conference Program. This law only covered citizens of New York who had subprime mortgages and were facing foreclosure. On December 15, 2009, the governor of New York, David Patterson, signed into law a bill which expanded this program to cover all people in the state who were facing foreclosure. This new law expanded the reforms in the original law passed in 2008. While this law will help residents of New York facing foreclosure save their homes there are certain problems which may prevent it from being as effective as it could be.
Read the original post:New York Passes New Law Extending Protection to All New York Citizens Facing Foreclosure
