Brian McGrath Appears on CBS New York as Governor Hochul Mulls Whether to Sign New York Foreclosure Abuse Prevention Act
New York-based Hinshaw partner Brian McGrath appeared on CBS New York to discuss the New York Foreclosure Abuse Prevention Act, which was approved by the New York legislature earlier this spring. New York Governor Kathy Hochul has not indicated whether she will sign the bill into law once it hits her desk.
McGrath said the law would have negative effects both on the lending industry and homeowners. He explained that the risk to a lender if a loan goes into default will become much higher in New York, because the law will make it far more difficult for a lender to recover on a bad home loan.
"Foreclosure Abuse Prevention Act awaits Gov. Hochul's decision" was broadcast by CBS New York on August 1, 2022
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