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New York State Legislature Shortens Foreclosure Proceedings

Jeff Varcadipane

June 7, 2019

The state legislature signed Chapter 73 of the Laws of New York into law during the summer in an attempt to shorten foreclosure proceedings. New York foreclosure proceedings are some of the longest in the United States, and are now subject to expedited measures, including a notable amendment to CPLR §3408 shortening the timeline of the mandatory foreclosure settlement conference. The settlement conference requirement allows a citizen borrower to negotiate with their lender in the hopes of preventing the borrower from losing his or her home, and previously delayed actions by an average of nine months. It was amended to require borrowers to bring necessary legal documents (such as tax returns, property taxes, benefits information, etc.) to the initial conference with the judge. The legislature hopes that this will shorten the proceedings, by allowing judges to determine if a borrower is eligible for reinstatement, loan modification, or payoff as a settlement option at an earlier date.

Jeffrey W. Varcadipane

Jeffrey W. Varcadipane is a Certified Civil Trial Attorney by the Supreme Court of the State of New Jersey and a Founding Partner of the Firm. He handles a variety of matters including civil and commercial litigation, appellate practice, real estate, and business law.

University: J.D. Fordham Law School

Bar Number: 29472005

Locations: New Jersey, New York, and Florida.

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This page has been written, edited, and reviewed by a team of legal writers following our comprehensive editorial guidelines. This page was approved by Founding Partners, Jeffrey W. Varcadipane & Dawn M. Pinnisi, with more than 40 years of combined legal experience as personal injury attorneys.

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