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