Mortgages/Predatory Lending. A New York court recently denied foreclosure and stayed the proceeding seeking to take back the home finding that the original lender violated New York ‘s “predatory lending” statue, Banking Law, Section 6-L (“High-cost home loans”). The Court scheduled a hearing to determine damages incurred by the homeowner…
That is the question in a recent lawsuit filed in Rockland County Supreme Court. Most real estate attorneys would say that closing with out a certificate of occupancy on a newly constructed house is not a good idea, even a departure from accepted standards. A certificate of occupancy is the…
As we reference on our web-site (above), the New York State Property Condition Disclosure Act requires sellers to complete the state mandated form or offer the buyers a $500.00 credit at closing for failure to complete and provide such form in the real estate transaction. Many sellers attorneys recommend that…