Brian McGrath Discusses the Impact of the New York Foreclosure Abuse Prevention Act on Homeowners

Hinshaw partner Brian McGrath was recently featured in a Newsday article reporting on the newly enacted New York Foreclosure Abuse Prevention Act's potential impact on homeowners in the state. McGrath stated that while the law aims to protect homeowners, it could adversely affect borrowers because lenders will have less flexibility to take time to work out a deal with borrowers facing foreclosure,

"Mortgage lenders will have to be extremely careful in pursuing mortgage foreclosure actions in the quickest possible time frame they can," he said. "All the time they're trying to work with the borrower, not pursuing in quick speed the foreclosure action, is going to count against their ability to recover on that lien."

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"New foreclosure law benefits Long Island homeowners" was published by Newsday on February 9, 2023.

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