1303 - Foreclosures; required notices.

§  1303. Foreclosures; required notices. 1. The foreclosing party in a  mortgage foreclosure action, involving residential real  property  shall  provide notice to:    (a)   any  mortgagor  if  the  action  relates  to  an  owner-occupied  one-to-four family dwelling; and    (b) any tenant of a dwelling unit in accordance with the provisions of  this section.    2.  The  notice  to  any  mortgagor  required  by  paragraph  (a)   of  subdivision  one of this section shall be delivered with the summons and  complaint.  Such notice shall be in bold, fourteen-point type and  shall  be  printed on colored paper that is other than the color of the summons  and  complaint,  and  the  title  of  the  notice  shall  be  in   bold,  twenty-point type. The notice shall be on its own page.    3.   The  notice  to  any  mortgagor  required  by  paragraph  (a)  of  subdivision one of this section shall appear as follows:                     Help for Homeowners in Foreclosure    New York State Law requires that we send you  this  notice  about  the  foreclosure process. Please read it carefully.  Summons and Complaint    You  are  in danger of losing your home. If you fail to respond to the  summons and complaint in this foreclosure  action,  you  may  lose  your  home.  Please  read  the  summons  and  complaint  carefully. You should  immediately contact an attorney or your local legal aid office to obtain  advice on how to protect yourself.  Sources of Information and Assistance    The State encourages you to become  informed  about  your  options  in  foreclosure. In addition to seeking assistance from an attorney or legal  aid  office,  there are government agencies and non-profit organizations  that you may contact for information about possible  options,  including  trying to work with your lender during this process.    To  locate  an  entity  near  you, you may call the toll-free helpline  maintained by the New York State Banking Department at (enter number) or  visit the Department's website at (enter web address).  Foreclosure rescue scams    Be careful of people who approach you with offers to "save" your home.  There are individuals who watch for notices of  foreclosure  actions  in  order  to  unfairly  profit  from  a homeowner's distress. You should be  extremely careful about any such promises and any suggestions  that  you  pay  them  a  fee  or  sign  over  your  deed. State law requires anyone  offering such services for profit to enter into a contract  which  fully  describes  the services they will perform and fees they will charge, and  which prohibits them from taking any money  from  you  until  they  have  completed all such promised services.    4.  The  notice to any tenant required by paragraph (b) of subdivision  one of this section shall be delivered within ten days of the service of  the summons and complaint. Such notice shall be in bold,  fourteen-point  type,  and  the  paragraph  of  the notice beginning with the words "ALL  RENT-STABILIZED" and ending with the words "FULL HEARING IN COURT" shall  be printed entirely in capital letters and underlined.  The  foreclosing  party  shall  provide  its  name,  address  and  telephone number on the  notice. The notice shall be printed on colored paper that is other  than  the  color  of  the  summons  and complaint, and the title of the notice  shall be in bold, twenty-point type. The notice  shall  be  on  its  own  page.  For  buildings  with  fewer  than five dwelling units, the notice  shall be delivered to the tenant,  by  certified  mail,  return  receipt  requested,  and  by  first-class  mail  to  the  tenant's address at the  property if the identity of the tenant is known to the plaintiff, and by  first-class mail delivered to "occupant" if the identity of  the  tenantis  not known to the plaintiff. For buildings with five or more dwelling  units, a legible copy of the notice shall be posted on  the  outside  of  each entrance and exit of the building.    5.  The  notice  required  by paragraph (b) of subdivision one of this  section shall appear as follows:                Notice to Tenants of Buildings in Foreclosure    New York State Law requires that we provide you this notice about  the  foreclosure process. Please read it carefully.    We,  (name  of  foreclosing  party), are the foreclosing party and are  located  at  (foreclosing  party's  address).  We  can  be  reached   at  (foreclosing party's telephone number).    The  dwelling  where  your  apartment  is  located is the subject of a  foreclosure proceeding. If you have a lease, are not the  owner  of  the  residence,  and  the  lease requires payment of rent that at the time it  was entered into was not substantially less than the  fair  market  rent  for  the  property,  you  may be entitled to remain in occupancy for the  remainder of your lease term. If you do not have a lease,  you  will  be  entitled  to  remain  in your home until ninety days after any person or  entity who acquires title to the property provides you with a notice  as  required  by  section  1305 of the Real Property Actions and Proceedings  Law. The notice shall provide information regarding the name and address  of the new owner and your rights to remain in your  home.  These  rights  are  in  addition  to  any  others  you may have if you are a subsidized  tenant under federal, state or local law or if you are a tenant  subject  to rent control, rent stabilization or a federal statutory scheme.    ALL  RENT-STABILIZED TENANTS AND RENT-CONTROLLED TENANTS ARE PROTECTED  UNDER THE RENT REGULATIONS WITH RESPECT TO EVICTION AND LEASE  RENEWALS.  THESE  RIGHTS  ARE UNAFFECTED BY A BUILDING ENTERING FORECLOSURE STATUS.  THE TENANTS IN RENT-STABILIZED AND RENT-CONTROLLED BUILDINGS CONTINUE TO  BE AFFORDED THE SAME LEVEL OF PROTECTION EVEN THOUGH THE BUILDING IS THE  SUBJECT OF FORECLOSURE. EVICTIONS CAN  ONLY  OCCUR  IN  NEW  YORK  STATE  PURSUANT TO A COURT ORDER AND AFTER A FULL HEARING IN COURT.    If  you  need  further  information,  please  call  the New York State  Banking    Department's    toll-free    helpline    at    1-877-BANK-NYS  (1-877-226-5697)     or    visit    the    Department's    website    at  http://www.banking.state.ny.us.    6. The banking department shall prescribe the telephone number and web  address to be included in either notice.    7. The banking department shall post on its website or otherwise  make  readily  available  the  name  and  contact  information  of  government  agencies or non-profit organizations that may be contacted by mortgagors  for information about the foreclosure process, including  maintaining  a  toll-free  helpline  to  disseminate  the  information  required by this  section.