Assemblyman Andrew Raia (R,I,C-East Northport) today announced that Governor David Paterson has signed a multi-sponsored bill of his into law, which allows Suffolk County to waive fees, penalties and interest for the redemption of foreclosed residential real estate occurring as a result of financial hardship associated with military service. The legislation, approved by the governor late last month, will permit the owner of any foreclosed home or other residential real estate to redeem it without additional cost. Chapter 227 of 2009 amends a gap in existing Suffolk County tax law for military personnel and their families, which allows redemption of foreclosed property but leaves in place costly charges. Soldiers, sailors and airmen must have been activated by their respective branch for at least six consecutive months for the law to affect them.
“The brave men and women of the United States armed forces sacrifice on our behalf every day,” said Raia. “With a new post-9/11 G.I. Bill going into effect this month for all returning U.S. servicemen and women, it is necessary also to remember those who are still deployed or who have been killed in the line of duty. Financial hardship has beset many New Yorkers during this difficult recession; our military families remain some of the most vulnerable. By waiving the costs associated with service-related foreclosures, we can more quickly return veterans to financial stability. I applaud the governor for his endorsement of this important legislation, and I pledge to continue my advocacy for New York State’s military families and personnel.”
The law went into effect on July 16.