We have been hearing from Title Companies about an increase in the use of fraudulent mortgage payoff letters. As a consequence, many Title Agents are modifying their procedures for satisfying mortgages at closings such as requiring that the Title Agent receive payoff letters at least 24 hours prior to closing in order to have sufficient time to verify the authenticity of the payoff letter. Also needed to be verified is the telephone number for the payee bank, the address or wire instructions provided in the payoff letter so as to avoid payoff funds being sent to the fraudsters.

Governor Andrew M. Cuomo today signed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 (“Act”). The Act (S.9114/A.11181) prevents residential evictions, foreclosure proceedings, credit discrimination and negative credit reporting related to the COVID-19 pandemic. It also extends the Senior Citizens' Homeowner Exemption and Disabled Homeowner Exemption from 2020 to 2021.

Governor Andrew M. Cuomo today signed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 (“Act”). The Act (S.9114/A.11181) prevents residential evictions, foreclosure proceedings, credit discrimination and negative credit reporting related to the COVID-19 pandemic. It also extends the Senior Citizens' Homeowner Exemption and Disabled Homeowner Exemption from 2020 to 2021.

Governor Andrew M. Cuomo today signed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 (“Act”). The Act (S.9114/A.11181) prevents residential evictions, foreclosure proceedings, credit discrimination and negative credit reporting related to the COVID-19 pandemic. It also extends the Senior Citizens' Homeowner Exemption and Disabled Homeowner Exemption from 2020 to 2021.