New York Senate Bill S5473D and its companion Assembly Bill A7737B seek to overturn the New York Court of Appeals' well-reasoned decision in Freedom Mtge. v. Engel, 37 N.Y.3d 1 (N.Y. 2021), and retroactively annul lenders' long-standing right to revoke their option to accelerate mortgage loans after default. If enacted, this so-called "foreclosure abuse prevention act" would present a radical departure from more than a century of well-settled law, likely accelerating gentrification and exacerbating New York City's housing crisis by creating favorable conditions for real estate speculators to prey on, and profit off, vulnerable and distressed homeowners.