Foreclosure Acceleration Prevention Act Effects NYC

Foreclosure Defense On Nice Home in NY

In response to the New York Court of Appeals’ decision in Freedom Mortgage Corp. v. Engel (146 N.Y.S.3d 542, 2021), which held that a noteholder’s voluntary revocation of an acceleration of debt restarted the statute of limitations for mortgage foreclosure actions, the New York Legislature passed the Foreclosure Acceleration Prevention Act (FAPA) on December 30, […]