126 views 43 sec 0 Comment

New York Class Action Settlement Impacts Foreclosure Proceedings: What Condo and HOA Boards and Management Need to Know

/ Owner - March 13, 2024

A recent class-action settlement addressing foreclosure procedures in New York State has significant implications for condominium and homeowners’ associations (HOAs) that have owners in arrears. The law involved only applies to foreclosures of home loans, and not condo and HOA foreclosure of common charge liens and experienced counsel need to make this clear at the initial filing of the foreclosure action or risk having the action dragged into a mandatory court process where owners could be appointed legal counsel and the action delayed.     Read the article…………………………….

Comments are closed.