On one hand, the Foreclosure Abuse Prevention Act (A7737B), recently signed into law by Governor Kathy Hochul, is transformative legislation which may cause the dismissal of thousands of pending foreclosures with prejudice over technicalities such as a failure to send a proper default notice. On the other hand, at least prospectively, the fever-pitched panic from mortgage lenders, while understandable, may be premature.

The Foreclosure Abuse Prevention Act (FAPA) amends six current laws [CPLR §203, CPLR §205, CPLR §213, CPLR §3217, RPAPL §1301, and GOL §17-105] and adds CPLR §205-a. To the delight of court administrators, the changes will cause the permanent dismissal of thousands of foreclosures which have congested the civil docket over the past decade.

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