NY AG tells mortgage servicers to provide relief during pandemic

New York News

ALBANY, N.Y. (NEWS10) — New York’s Attorney General is calling on major mortgage servicers to provide immediate and long-term relief for all New York homeowners struggling due to the coronavirus pandemic.

AG Letitia James told servicers they have a responsiblity to do more to ensure that the pandemic does not cause any unnecessary foreclosures or increase homelessness in the state.

James is asking late fees to be automatically waived and for homeowners to be placed in three-month forbearance as soon as a payment is missed. She is also asking that homeowners be able to extend agreements for up to a year as long as they can prove their hardship is COVID-19 related.

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