Posted by Ruben Diaz on Friday, November 18th, 2011
November 18, 2011
For Immediate Release
New York State Senator Reverend Ruben Diaz (D-Bronx) has drafted legislation to amend the State’s real property actions and proceedings law to impose stricter requirements on lenders, assignees and mortgage servers by requiring them to submit an affidavit to the court prior to commencing foreclosure proceedings, attesting under oath they own the property being foreclosed. Should they not be able to subsequently prove this during the foreclosure proceedings, they will be guilty of a class E felony. Recently enacted in Nevada, the foreclosure rates declined over 90%.
Senator Diaz, a Member of the New York State Senate Housing Committee and Banking Committee stated: