Bill Text: NY S00233 | 2015-2016 | General Assembly | Introduced

---

Bill Title: Prohibits mortgagee from refusing to accept partial mortgage payments.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2016-01-06 - REFERRED TO JUDICIARY [S00233 Detail]

Download: New_York-2015-S00233-Introduced.html

---

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          233
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 7, 2015
                                      ___________
       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    S  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    S  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.
                                                                  LBD00366-01-5