Law Affecting Foreclosed Property Auction Listings Signed in New York
By James Foxx
(ForeclosureDeals)
The law recently signed by New York Governor David Paterson will strengthen the legal rights of homeowners in the state and will have some effect on the foreclosure condition of the area, housing market analysts have said. They added that the regulation might help lower the number of houses falling under foreclosed property auction listings in New York. According to real estate experts, the law might help ease the problem caused by the expanding foreclosure listings in Bronx and in other key areas of New York. The regulation is said to be designed to provide a fairer ground for all parties involved in foreclosure cases. The Access to Justice in Lending Act, analysts explain, provides homeowners with a legal right to recover lawyers' fees in lawsuits that involve New York home foreclosur...
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