Deal near over NY bill to delay foreclosures

June 18, 2008 12:00PM

Governor David Paterson and legislative leaders are working toward an agreement on a bill to make foreclosing on homes more difficult for lenders. The legislation would require lenders to send notices at least 60 days before staring foreclosure proceedings, and give mortgage brokers responsibility for ensuring customers will be able to repay loans. Lending industries have been fighting the bill, which is expected to be passed by the Legislature before Monday.

Comments are closed.