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New NYS Law Allows For Mortgage Forbearance Due to Coronavirus

by Amy Loftsgordon –

On June 17, 2020, New York Governor Andrew Cuomo signed Senate Bills 8243C and 8428 into law, which add Section 9-x to the state’s banking statutes. This new section requires lenders and servicers to offer forbearances to residential homeowners in New York affected by the coronavirus (COVID-19) pandemic.


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