Foreclosure Notification: Local Law 4 of 2012
Effective June 15, 2012, Local Law 4 of 2012 requires mortgagees (i.e. lenders) to notify HPD within fifteen days when they commence or discontinue a mortgage foreclosure action against any residential property in New York City. Notification is also required when mortgagees receive a judgment in a foreclosure action; sell the foreclosed property; or if a receiver is appointed.

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Local Law 4 Legislation

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