Photo: Bigstock The Savings Clause: Issues in Foreclosure Defense Cases
This article focuses on specific challenges to the applicability of CPLR §205(a) known as the "Savings Clause" to a new foreclosure action commenced in which the mortgage debt has been accelerated and a prior foreclosure action was dismissed.
December 30, 2020 at 11:00 AM
7 minute read
The foreclosure law in New York has evolved over the last 13 years following the 2007 mortgage crises. The legislation that was enacted to address this evolution, had the effect of slowing the foreclosure process to facilitate home retention and provide an opportunity for parties to negotiate loss mitigation alternatives.
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