NY A05841

Amends Real Property Actions and Proceedings Law Section 1304 to require notice to borrowers include "only" specified information, applying to both standard home loans and reverse mortgage home loans.

Mandates lenders, assignees, or mortgage loan servicers provide notice at least 90 days before commencing mortgage foreclosure or legal action, in at least 14-point type (16-point for reverse mortgage headings).

Requires lenders, assignees, or mortgage loan servicers to demonstrate strict compliance with notice requirements and prove they were entitled to enforce the subject note and mortgage at the time notices were sent.

Takes effect immediately and applies to all foreclosure actions commenced under CPLR Section 213(4) where a final judgment of foreclosure and sale has not yet been enforced.