New Yorkers for Responsible Lending (NYRL), a statewide coalition of 161 groups, is urging Gov. Andrew Cuomo to sign a bill aimed at protecting New Yorkers threatened with foreclosure.
The groups involved include AARP and the Empire Justice Center, according to a news release from NYRL.
The bill would keep homeowners from falling into a legal limbo, known as the “shadow docket,” that prevents them from reaching court-supervised mediation in foreclosure cases, according to NYRL.
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Such a situation creates a “Catch 22,” NYRL says, as interest and penalties mount and makes mortgage modifications less affordable.
NYRL estimates 92 New Yorkers fall into the “shadow docket” every day.
The state legislature last month approved the bill, but it hasn’t yet been sent to Gov. Cuomo for his signature.
“This bill will not only help homeowners but it will help communities by moving foreclosures on vacant and abandoned properties along more swiftly,” Kirsten Keefe, senior attorney for the Empire Justice Center, said in the news release.
Empire Justice Center works to “protect and strengthen” the legal rights New Yorkers “who are poor, disabled or disenfranchised, according to its website.
The organization operates offices in Albany, Rochester, White Plains, and Long Island.
Contact Reinhardt at ereinhardt@cnybj.com
