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A03538 Summary:

SAME ASNo same as
COSPNSRCastro, Scarborough
Amd S1303, RPAP L; add S92-h, St Fin L
Enacts the "foreclosure prevention act of 2011"; establishes that before any mortgagee may accelerate the maturity of any eligible mortgage obligation, commence any legal action including mortgage foreclosure, or take possession of any security of the mortgage debtor for such mortgage obligation that such mortgagee shall give the mortgagor notice; authorizes the commissioner of the state division of housing and community renewal to enter into contracts with neighborhood preservation companies to provide temporary homeownership assistance activities; gives notice to mortgagors of foreclosure prevention activities and payments; creates the New York state foreclosure prevention fund.
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