§ 1303 — Foreclosures; required notices

§ 1303. Foreclosures; required notices. 1. The foreclosing party in a\nmortgage foreclosure action, involving residential real property shall\nprovide notice to:\n (a) any mortgagor if the action relates to an owner-occupied\none-to-four family dwelling; and\n (b) any tenant of a dwelling unit in accordance with the provisions of\nthis section.\n 2. The notice to any mortgagor required by paragraph (a) of\nsubdivision one of this section shall be delivered with the summons and\ncomplaint. Such notice shall be in bold, fourteen-point type and shall\nbe printed on colored paper that is other than the color of the summons\nand complaint, and the title of the notice shall be in bold,\ntwenty-point type. The notice shall be on its own page.\n 3. The notice to any mortgagor required by paragraph (a) of\nsubdivision one of this section shall appear as follows:\n Help for Homeowners in Foreclosure\n New York State Law requires that we send you this notice about the\nforeclosure process. Please read it carefully.\nSummons and Complaint\n You are in danger of losing your home. If you fail to respond to the\nsummons and complaint in this foreclosure action, you may lose your\nhome. Please read the summons and complaint carefully. You should\nimmediately contact an attorney or your local legal aid office to obtain\nadvice on how to protect yourself.\nSources of Information and Assistance\n The State encourages you to become informed about your options in\nforeclosure. In addition to seeking assistance from an attorney or legal\naid office, there are government agencies and non-profit organizations\nthat you may contact for information about possible options, including\ntrying to work with your lender during this process.\n To locate an entity near you, you may call the toll-free helpline\nmaintained by the New York State Department of Financial Services at\n(enter number) or visit the Department's website at (enter web address).\n Rights and Obligations\nYOU ARE NOT REQUIRED TO LEAVE YOUR HOME AT THIS TIME. You have the right\nto stay in your home during the foreclosure process. You are not\nrequired to leave your home unless and until your property is sold at\nauction pursuant to a judgment of foreclosure and sale.\nRegardless of whether you choose to remain in your home, YOU ARE\nREQUIRED TO TAKE CARE OF YOUR PROPERTY and pay property taxes in\naccordance with state and local law.\nForeclosure rescue scams\n Be careful of people who approach you with offers to "save" your home.\nThere are individuals who watch for notices of foreclosure actions in\norder to unfairly profit from a homeowner's distress. You should be\nextremely careful about any such promises and any suggestions that you\npay them a fee or sign over your deed. State law requires anyone\noffering such services for profit to enter into a contract which fully\ndescribes the services they will perform and fees they will charge, and\nwhich prohibits them from taking any money from you until they have\ncompleted all such promised services.\n 3-a. No later than sixty days after the effective date of this\nsubdivision, the department of financial services shall publish a\nConsumer Bill Of Rights, in consultation with all stakeholders, which\nshall detail the rights and responsibilities of the plaintiff and\ndefendant in a foreclosure proceeding. Such Bill of Rights shall be\nupdated on an annual basis and as appropriate.\n 4. The notice to any tenant required by paragraph (b) of subdivision\none of this section shall be delivered within ten days of the service of\nthe summons and complaint. Such notice shall be in bold, fourteen-point\ntype, and the paragraph of the notice beginning with the words "ALL\nRENT-STABILIZED" and ending with the words "FULL HEARING IN COURT" shall\nbe printed entirely in capital letters and underlined. The foreclosing\nparty shall provide its name, address and telephone number on the\nnotice. The notice shall be printed on colored paper that is other than\nthe color of the summons and complaint, and the title of the notice\nshall be in bold, twenty-point type. The notice shall be on its own\npage. For buildings with fewer than five dwelling units, the notice\nshall be delivered to the tenant, by certified mail, return receipt\nrequested, and by first-class mail to the tenant's address at the\nproperty if the identity of the tenant is known to the plaintiff, and by\nfirst-class mail delivered to "occupant" if the identity of the tenant\nis not known to the plaintiff. For buildings with five or more dwelling\nunits, a legible copy of the notice shall be posted on the outside of\neach entrance and exit of the building.\n 5. The notice required by paragraph (b) of subdivision one of this\nsection shall appear as follows:\n Notice to Tenants of Buildings in Foreclosure\n New York State Law requires that we provide you this notice about the\nforeclosure process. Please read it carefully.\n We, (name of foreclosing party), are the foreclosing party and are\nlocated at (foreclosing party's address). We can be reached at\n(foreclosing party's telephone number).\n The dwelling where your apartment is located is the subject of a\nforeclosure proceeding. If you have a lease, are not the owner of the\nresidence, and the lease requires payment of rent that at the time it\nwas entered into was not substantially less than the fair market rent\nfor the property, you may be entitled to remain in occupancy for the\nremainder of your lease term. If you do not have a lease, you will be\nentitled to remain in your home until ninety days after any person or\nentity who acquires title to the property provides you with a notice as\nrequired by section 1305 of the Real Property Actions and Proceedings\nLaw. The notice shall provide information regarding the name and address\nof the new owner and your rights to remain in your home. These rights\nare in addition to any others you may have if you are a subsidized\ntenant under federal, state or local law or if you are a tenant subject\nto rent control, rent stabilization or a federal statutory scheme.\n ALL RENT-STABILIZED TENANTS AND RENT-CONTROLLED TENANTS ARE PROTECTED\nUNDER THE RENT REGULATIONS WITH RESPECT TO EVICTION AND LEASE RENEWALS.\nTHESE RIGHTS ARE UNAFFECTED BY A BUILDING ENTERING FORECLOSURE STATUS.\nTHE TENANTS IN RENT-STABILIZED AND RENT-CONTROLLED BUILDINGS CONTINUE TO\nBE AFFORDED THE SAME LEVEL OF PROTECTION EVEN THOUGH THE BUILDING IS THE\nSUBJECT OF FORECLOSURE. EVICTIONS CAN ONLY OCCUR IN NEW YORK STATE\nPURSUANT TO A COURT ORDER AND AFTER A FULL HEARING IN COURT.\n If you need further information, please call the New York State\nDepartment of Financial Services' toll-free helpline at (enter number)\nor visit the Department's website at (enter web address).\n 6. The department of financial services shall prescribe the telephone\nnumber and web address to be included in either notice.\n 7. The department of financial services shall post on its website or\notherwise make readily available the name and contact information of\ngovernment agencies or non-profit organizations that may be contacted by\nmortgagors for information about the foreclosure process, including\nmaintaining a toll-free helpline to disseminate the information required\nby this section.\n