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Senate Bill S5934

2009-2010 Legislative Session

Relates to procedure and evidence at mandatory settlement conferences in residential foreclosure actions and requires good faith settlement discussions

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2009-S5934 (ACTIVE) - Details

See Assembly Version of this Bill:
A8945
Law Section:
Civil Practice Law and Rules
Laws Affected:
Amd R3408, CPLR
Versions Introduced in Other Legislative Sessions:
2011-2012: A5856, A7338
2013-2014: A6748
2015-2016: A6283

2009-S5934 (ACTIVE) - Summary

Relates to procedures at mandatory settlement conferences in residential foreclosure actions and requires good faith settlement discussions in connection with such foreclosure actions.

2009-S5934 (ACTIVE) - Sponsor Memo

2009-S5934 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5934

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                              June 18, 2009
                               ___________

Introduced  by  Sen.  KLEIN  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to amend the civil practice law and rules, in relation to  manda-
  tory  settlement  conferences  in  residential foreclosure actions and
  requiring good faith settlement discussions in  connection  with  such
  foreclosure actions

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision (a) of rule 3408 of the civil practice law  and
rules,  as  added by chapter 472 of the laws of 2008, is amended to read
as follows:
  (a) In any residential foreclosure action involving a  high-cost  home
loan consummated between January first, two thousand three and September
first, two thousand eight, or a subprime or nontraditional home loan, as
those  terms are defined under section thirteen hundred four of the real
property actions and proceedings law, in which the defendant is a  resi-
dent  of  the  property  subject  to foreclosure, the court shall hold a
mandatory conference within sixty days after  the  date  when  proof  of
service is filed with the county clerk, or on such adjourned date as has
been  agreed  to  by  the parties, for the purpose of holding settlement
discussions pertaining to the relative rights  and  obligations  of  the
parties under the mortgage loan documents, including, but not limited to
determining  whether  the  parties can reach a mutually agreeable resol-
ution to help the defendant avoid losing his or her home, and evaluating
the potential for a resolution in which payment schedules or amounts may
be modified or other workout options may be agreed to, and for  whatever
other  purposes the court deems appropriate.  BOTH THE PLAINTIFF AND THE
DEFENDANT MUST MAKE GOOD FAITH EFFORTS TO  REACH  A  MUTUALLY  AGREEABLE
RESOLUTION.  SUCH GOOD FAITH EFFORTS MUST INCLUDE, AT A MINIMUM, FOLLOW-
ING THE UNITED STATES DEPARTMENT OF THE TREASURY HOME AFFORDABLE MODIFI-
CATION PROGRAM GUIDELINES ISSUED ON MARCH FOURTH, TWO THOUSAND NINE, AND
ANY AMENDMENTS THERETO.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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