Vote Smart's Synopsis:

Vote to pass a bill that amends state law regarding real property actions and proceedings and details the language to be used in notices for foreclosures, mortgages, and related topics in New York.

Highlights:

• Amends state law regarding real property actions and proceedings and details the language to be used in notices for foreclosures, mortgages, and related topics in New York (Sec. 1).

• Repeals and overturns a recent unanimous Court of Appeals decision in Bank of America N.A. v. Kessler which held that a pre-foreclosure notice sent to a residential mortgage borrower is not automatically voided (Sec. 1).

• Specifies that the provisions of this bill shall take effect immediately upon passage and approval by the Governor (Sec. 1).

Full Bill Text