Over banks' opposition, New York's governor has signed into law a measure that will allow prevailing homeowners in many foreclosure actions to claim attorney fees from lenders. The Access to Justice in Lending Act will put defendants in foreclosure proceedings on the same footing as lenders, who often include in mortgage documents the right to recoup reasonable attorney fees if they bring a successful action.
October 25, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Going against state bankers, New York Gov. David A. Paterson has signed into law a measure that will allow prevailing homeowners in many foreclosure actions to claim attorney fees from lenders.
The Access to Justice in Lending Act, A1239/S2614, will put defendants in foreclosure proceedings on the same footing as lenders, who often include in mortgage documents the right to recoup reasonable attorney fees if they bring a successful action.
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