Bill Text: NY S04954 | 2017-2018 | General Assembly | Introduced
Bill Title: Prohibits mortgagee from refusing to accept partial mortgage payments.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2017-03-03 - REFERRED TO JUDICIARY [S04954 Detail]
Download: New_York-2017-S04954-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 4954 2017-2018 Regular Sessions IN SENATE March 3, 2017 ___________ Introduced by Sen. DIAZ -- 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. LBD02620-01-7
