(For informational purposes only and not intended as legal advice or legal consulting.)

Attention All Foreclosure Defense Attorneys, Forensic Loan Auditors, and Homeowners Facing Imminent Foreclosures:

If you or someone you represent or assisting is facing foreclosure in the state of New York, a recent brand new bill known as the “New York Foreclosure Protection Bill” Senate Bill S5160 is a VERY powerful foreclosure defense weapon to help Stop Foreclosures!!

Do any of the following questions below apply to your situation, if so the New York Foreclosure Protection Bill might be the perfect foreclosure defense strategy to resolve your foreclosure matter very quickly!

  • Did a mortgage lender initiate a foreclosure lawsuit in New York against you or someone you represent or assisting?
  • Was a loan modification denied??
  • Was a short sale offer to prevent foreclosure rejected?
  • Did the judge deny an “Order To Show Cause” to stop a foreclosure sale date and you quickly need to stop a foreclosure sale auction from happening??
  • Was the mortgage lender granted a Judgment Of Foreclosure Sale Order?”

If you can answer YES to any of those questions related to your foreclosure matter, then you are about to discover groundbreaking knowledge that could turn around imminent foreclosure!!

On December 23rd, 2019 the “New York Governor Andrew Cuomo” signed this new bill that is intended to help all defendants in foreclosure court right now and can be used at any time during a foreclosure lawsuit!!!

AGAIN, this bill is intended to help all defendants in foreclosure court right now and can be used at any time during a foreclosure lawsuit!!!

New York’s Foreclosure Problem

New York has one of the highest mortgage delinquency and foreclosure rates in the nation, the average foreclosure timeline is 1,103 days.

In the state of New York, 1 in 21 homes are in foreclosure and another 1 in 10 are at risk of foreclosure status.

The New York State Comptroller confirms the average foreclosure case takes approximately 2.5 years in New York.

Actually, the time that a foreclosure case takes will often depend on the area location where the person resides. For example, a foreclosure case in upstate New York may take 1.5 years versus 3.5 years in foreclosure cases found in downstate New York which typically can take twice as long.

New York is in a crisis epidemic state of emergency where properties that are either in foreclosure or facing foreclosure exceeds the populations of Buffalo, Rochester, and Syracuse combined!!

It’s imperative that homeowners facing foreclosures, foreclosure defense attorneys, forensic loan auditors, and those assisting individuals in foreclosure matters start to arm themselves with expert knowledge on securitization imperfections and lack of enforceable security interest against foreclosure actions to properly raise issues on Standing to introduce the New York Foreclosure Protection Bill!!

Securities backed by mortgage receivables are called mortgage-backed securities (MBS).

Standing issues will need to be raised properly!!

The New York Foreclosure Protection Bill will allow Standing issues to be raised at any time during a foreclosure lawsuit.

The “New York Foreclosure Protection Bill” is the most powerful weapon and can be used to help homeowners facing foreclosures if presented properly.

This bill was sponsored by Assemblymember Helene Weinstein who was born in Brooklyn, New York, representing District 41 in the New York State Assembly, which comprises Sheepshead Bay, Flatlands, East Flatbush, Midwood, and Canarsie. The bill was also sponsored by State Senator Brian Kavanagh, representing the 26th district in the New York State Senate, for Lower Manhattan and the western part of Brooklyn since December 2017.

Lobbying support for the bill also came from City Council Member Robert Cornegy Jr. (D-Bedford-Stuyvesant, Northern Crown Heights) and immense support from Assemblymember Tremaine Wright (D-Bedford-Stuyvesant, Northern Crown Heights) as well as State Senator Velmanette Montgomery (D-Fort Greene, Boerum Hill, Red Hook, Bedford-Stuyvesant, Sunset Park, Gowanus, Park Slope) which foreclosures have impacted their district areas tremendously in recent years.

Foreclosure Defense For Lack Of Standing Is Now Not Waived

Why is the New York Foreclosure Protection Bill so important to stop lenders in their tracks from foreclosing??!

This bill is an amendment to Article 13 in Real Property Actions & Proceedings that will now allow foreclosure defendants in New York more leeway to raise a defense of “Standing” in foreclosure matters.

An amendment is a formal or official change made to a law, contract, constitution, or other legal documents.

Standing issues will need to be raised properly!!

Prior to the New York Foreclosure Protection Bill, a foreclosure defendant must raise and challenge lenders on issues related to Standing within 30 days of the foreclosure lawsuit.

When homeowners failed to introduce Standing issues within the allotted time frame, the right to do so later was deemed waived and was not allowed to be addressed later at any time during the entire court process.

Making it virtually impossible for homeowners facing foreclosures, foreclosure defense attorneys, and forensic loan auditors to introduce “Standing” issues after 30 days have expired.

This bill is being championed because too many homeowners lost their properties in foreclosure actions against lenders who couldn’t prove how they owned the loans and held enforceable security interest to start foreclosure lawsuits.

However, homeowners in foreclosure didn’t understand how to raise Standing issues within the 30 days allowed.

Standing issues will need to be raised properly!!

Under the New York Foreclosure Protection Bill a new section 1302-a, permits a homeowner (the defendant) in a foreclosure suit to raise a defense of standing at any time in the litigation!!

Typically, most OTSC is denied because of raising challenges on Standing issues after 30 days.

This is also vastly why most “Order To Show Cause” requests seeking to prevent foreclosure sale dates are often denied.

Solving Foreclosure Defense Strategy Problems

The “New York Foreclosure Protection Bill” is a very powerful weapon as foreclosure defense.

However, foreclosure defense strategies still need to properly address supporting issues and case laws to raise a lack of Standing in violations to Article 13 in Real Property Actions & Proceedings.

Standing issues will need to be raised properly!!

This is what the introductory “New York Foreclosure Defense System Forms” will help to solve and train on securitization imperfections and lack of enforceable security interest against foreclosure actions in violations to Article 13 in Real Property Actions & Proceedings for ACTION TO FORECLOSE A MORTGAGE!

“New York Foreclosure Defense System Forms” can be used to Vacate Judgment Of Foreclosure Sale, Dismiss Foreclosure Actions, Stay Foreclosure Sale Auction, and more!

The template forms are comprised of statutes to use New York Foreclosure Protection Bill to raise Standing issues and supporting case laws for foreclosure defense strategies on Standing in violations to Article 13 in Real Property Actions & Proceedings for ACTION TO FORECLOSE A MORTGAGE.

Only the loan holder has enforceable security interest and authority to foreclose and must be able to prove ownership as a holder in due course.

The New York Foreclosure Protection Bill doesn’t permit an objection or defense for lack of Standing following a foreclosure sale, that is unless the judgment of foreclosure and sale was issued upon the defendant’s default.

Standing issues will need to be raised properly!!

Understanding securitization imperfections and lack of enforceable security interest and relevant supporting case laws are foreclosure defenses to properly raise Standing issues.

Additionally, it will be extremely important to understand the most relevant and existing case laws for how to raise issues on Standing under the New York Foreclosure Protection Bill!!

One major caution should be to not make the mistake of only Raising “Standing” by the introduction of the “New York Foreclosure Protection Bill” without supporting facts, evidence, and relevant case laws identifying securitization imperfections and lack of enforceable security interest in violations to Article 13 in Real Property Actions & Proceedings for ACTION TO FORECLOSE A MORTGAGE!

New York Foreclosure Defense System Forms comes with the following step-by-step fill-in-blank preparation template forms and easy to follow instructions including statutes and supporting case laws that can be used immediately within minutes by homeowners, foreclosure defense attorneys, and forensic loan auditors:

Senate Bill S5160

(This is what you will find inside!!)

  • New York Foreclosure Protection Bill Complete Overview.
  • Step-by-Step Training Video Module Instructions On Article 13 in Real Property Actions & Proceedings To Raise Issues On Lack Of Standing For Senate Bill S5160.
  • Template Forms Preparation To Establish Who Is The Proper Party To Initiate Foreclosure Lawsuit, Determine Current Note Holder With Enforceable Security Interest, Request Loan Documents, Correct Errors, Request Information.
  • Template Forms Preparation To Stay Foreclosure Sale Date Public Auction On Lack Of Standing For Senate Bill S5160.
  • Template Forms Preparation To Answer Foreclosure Lawsuit On Lack Of Standing and Foreclosure Defenses.
  • 24/7 FREE E-mail Support!
  • Bonus Service: Receive FREE lifetime new forms updates to the “New York Foreclosure Defense System Forms” with statute amendments and case law updates including relevant new case laws to raise issues on standing. (Only if you request a refund this bonus service will be automatically terminated.)

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Disclaimer: The New York Foreclosure Defense System Forms are for informational purposes only and not intended as legal advice. This system was created to offer template forms to educate and train individuals on Statute as written law passed by a legislative body and supporting case laws regarding raising issues of Standing in foreclosure matters in New York.

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