Greenspoon Marder Financial Services Update – State of New York

Jun 24, 2020

Residential and Commercial Foreclosure Moratorium Process Update

On June 23, 2020 the Chief Administrative Judge issued a memorandum with corresponding Administrative Orders setting forth the procedures for proceeding with Residential and Commercial foreclosure matters.

The Administrative Orders are effective June 24, 2020 and set forth the following:

New foreclosure complaints, where the property is deemed vacant and abandoned and not subject to any HUD,VA, or FHFA hold, must be filed with the attached Attorney Affirmation, confirming compliance with all state and federal restrictions. In addition, the Complaints will be served with a notice to Borrowers/Tenants, informing them that there is an extension of time to respond to the Complaint.
Represented parties may begin to schedule virtual settlement conferences
Judgement of Foreclosure and Sale may be filed if the property is deemed vacant and abandoned. Courts will not permit the filing of any Order of Reference, Default Judgement, Summary Judgement, and/or Motion for Extension or Amendment
Foreclosure auctions are suspended
Discontinuance pleadings may be filed

This directive is subject to change, and may be further limited to specific county and judge protocols.

Our office is has already begun reviewing our New York portfolio to proceed as applicable per the Chief Administrative Judge’s Memorandum.

Please reach out to us to further discuss.

About Greenspoon Marder

Greenspoon Marder LLP is a full-service law firm with over 225 attorneys and more than 20 office locations across the United States. With operations from Miami to New York and from Denver to Los Angeles, our firm attracts some of the nation’s top talent in key markets and innovation hubs. Our core practice areas include Real Estate, Litigation, and Transactional Services, complemented by the capabilities of a full-service firm. Greenspoon Marder has maintained a spot on The American Lawyer’s Am Law 200 as one of the top law firms in the U.S. since 2015, and our goal is to provide exceptional client service by developing a thorough understanding of each client’s business needs and objectives in order to provide strategic, cost-effective solutions.

MEDIA CONTACT

Natalie Villanueva, Director of Marketing
954.333.4308 | [email protected]

This Greenspoon Marder LLP Client Alert is issued for informational purposes only and is not intended to be construed or used as general legal advice nor a solicitation of any type. Please contact the author(s) or your Greenspoon Marder LLP contact if you have any questions regarding the currency of this information. The hiring of a lawyer is an important decision. Before you decide, ask for written information about the lawyer’s legal qualifications and experience.

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