NYRL Praises Governor and Legislature for Timely Passage of Foreclosure Prevention Bill

For Immediate Release

November 19, 2009

Contact: Kirsten E. Keefe,  (518) 462-6831

New Law Will Decrease Foreclosures, Protect Tenants, and Reduce Blight

New Yorkers for Responsible Lending, a statewide coalition of 149 non-profit groups, hailed swift action by the New York State Legislature, which passed landmark legislation on Monday that will help reduce foreclosures; protect tenants in foreclosed properties; and relieve local governments from maintaining properties when foreclosures occur.

The legislation, presented by Governor David A. Paterson, keeps New York State at the national forefront in addressing the foreclosure crisis. Upon the bill’s signing, New York will become the first state in the nation to provide for mandatory settlement conferences for all homeowners in foreclosure.

Click here to read and/or print this press release.