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NY A08083
Bill
Status
4/24/2025
Primary Sponsor
Gabriella Romero
Click for details
AI Summary
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Authorizes municipalities and the Department of Financial Services to seek civil penalties of up to $500 per day against mortgage foreclosure plaintiffs who fail to maintain foreclosed properties after a foreclosure judgment is issued
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Requires at least 7 days' notice to the foreclosure plaintiff before enforcement action can be taken, except in emergencies threatening public health, safety, or welfare
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Permits municipalities to immediately enter and maintain foreclosed properties to address emergency conditions, with notice provided to the plaintiff as soon as practicable
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Requires municipalities to notify the Department of Financial Services at least 10 days before bringing an enforcement action, though failure to provide notice is not a defense against the action
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Civil penalties collected by municipalities through enforcement actions are retained by that municipality
Legislative Description
Authorizes municipalities and the department of financial services to seek civil penalties for violations of the duty to maintain a foreclosed property in an amount of up to $500 per day for each day such violation persists after the judgement of foreclosure has been issued.
Last Action
referred to judiciary
1/7/2026