Amidst the flurry of mortgage fraud related stories in October, 2010, I completely MISSED this interesting new development for New York borrowers:
"Mortgage Foreclosures - Access to Justice in Lending Act"
On October 20, Governor Paterson signed into law the "Access to Justice in Lending Act", Chapter 550 of the Laws of 2010, which adds new Section 282 ("Mortgagor's right to recover attorneys' fees in actions or proceedings arising out of foreclosures of residential property)" to the Real Property Law.
The Assembly Bill is posted at:
NY litigants should consult their attorneys about their rights to recover attorneys fees in wrongful foreclosures relying on the provisions of this bill!