Governor Cuomo signs legislation enacting sweeping protections for homeowners

NEWS10 ABC - 08-14


ALBANY (NEWS10) – Governor Cuomo signed three measures enacting a package sweeping of homeowner protections Wednesday. The legislation includes enhancing consumer protection measures and closing loopholes to prevent deed fraud mortgage scams. It will also require banks to continue paying homeowner’s association fees on zombie properties that are part of a co-op. The third piece of legislation will reform the obligations of banks and financial institutions during sale of a mortgage.