S02663 Summary:
| BILL NO | S02663 |
| SAME AS | No Same As |
| SPONSOR | COMRIE |
| COSPNSR | |
| MLTSPNSR | |
| Add §254-e, RP L | |
| Prohibits mortgagee from refusing to accept partial mortgage payments from a mortgagor which does not bring the mortgagor current on his or her mortgage debt. | |
S02663 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 2663 2025-2026 Regular Sessions IN SENATE January 22, 2025 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the real property law, in relation to prohibiting mort- gagee from refusing to accept partial mortgage payments The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The real property law is amended by adding a new section 2 254-e to read as follows: 3 § 254-e. Refusal by mortgagee to accept partial mortgage payments. 1. 4 No mortgagee shall refuse to accept a partial payment of an entire 5 amount due from a mortgagor which does not bring the mortgagor current 6 on his or her mortgage debt. 7 2. The provisions of this section shall not bar any other contractual 8 or statutory rights or remedies available to a mortgagor. 9 § 2. This act shall take effect on the thirtieth day after it shall 10 have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05143-01-5