Mortgage eviction covid

The COVID-19 pandemic (COVID-19) has led to unemployment for many New Yorkers due to the closure of COVID-19-related businesses and consequent housing payments, including rent and mortgage payments became financial difficulties due to payment difficulties. Since the outbreak of the epidemic, the New York State government has offered several safety measures to minimize the financial burden on New York City tenants, landlords, and small landlords, while allowing COVID-19-affected New Yorkers. His ability to live in his house.

Therefore, New York Governor Andrew Cuomo has enacted a moratorium on urgent relocation and cancellation of mortgages to protect homeowners and homeowners because they are not required to pay rent or mortgage. They are at risk of losing their homes because they are unable to pay. These enforcement orders temporarily halted the development of evacuation procedures and suspended the execution of mortgage debts for residential and commercial mortgages. In connection with the declaration of COVID-19 as a medical emergency in March 2020, Governor Cuomo called for a halt to the evacuation of residential and business tenants and the suspension of mortgage lending, which took effect on June 13, 2020, a state moratorium.

Following the first legislation, the Safe Harbor Tenants Law was enacted on June 30, 2020, which, among other things, prohibits the eviction of tenants who have suffered financial hardship due to COVID-19 and allows a fine to be imposed. -Pay rent in some cases. As the plague continues to hit the country, the Tenants Safe Harbor Tenant Law has been expanded and extended to January 1, 2021, to provide tenants with additional protection against eviction. The Execution Order also provides financial assistance to certain landlords and homeowners and prohibits homeowners from charging late fees or other fines.

COVID-19 Law 2020 on the Prevention and Prevention of Emergency and Prevention

To resolve the ongoing problems, on December 28, 2020, Governor Cuomo signed the COVID-19 Decree to Flee Urgently and Prevent Corruption1 (Law). The law also prohibits the process of robbery and robbery until May 1, 2021, whenever a tenant or landlord submits to the landlord or the borrower a “difficult certificate” (as described above) explaining their financial problems. The law also protects against discrimination and lousy credit and increases the exemption for owners and the exemption from disability until 2021. The law focuses on the following areas:

Foreclosure Proceedings and Residential Evictions

The law prohibits the relocation of new homes and the completion of relocation by May 1, 2021, for tenants facing the COVID-19 challenge. To avoid eviction, tenants should provide the homeowner with a “Challenge Statement” explaining the financial problems’ origin. Landlords are also asked to give an example of how to report an issue to tenants applying for rent or send other notices at their discretion to notify tenants who choose to use it for rent. The Crisis Statement includes the option to state whether the host has significantly damaged the family budget or whether there has been an increase in out-of-pocket expenses due to COVID-19. Whether childcare is working or the need to care for elderly, sick, or disabled families has had a significant impact on family financing or the increase in unpaid bills. Or, have other COVID-19 related conditions enabled the host to maintain a useful service, among other things? If the landlord submits a distressing statement for the evacuation order not yet issued, including the evacuation order listed before March 7, 2020, these procedures will be at least 2021. Until May 1. By law, the owner has the right to evict tenants to (i) violate the use and enjoyment of other tenants or pose a substantial security risk and (ii) fail to submit a Hardness Statement.

The law also temporarily suspends foreclosure until May 1, 2021. Homeowners and small-scale homeowners with less than ten housing units may file a Declaration of Similar Difficulty to qualify for mortgage lenders, other securing parties, or court involved. The benefits of foreclosure are related to the financial hardships associated with COVID-19.

Tax refund revenue

The law also prevents local governments from retailing or collecting taxes on residential real estate (including shares in housing cooperatives) until at least May 1, 2021. Municipal and local taxes are still due and in effect.

Discrimination limits credit and bad credit credits

The law prohibits lenders from discriminating against property owners seeking a loan because the owners have the right to buy back money, sell taxes or mortgages, and mortgage lenders check for such behavior. Negative notification to the agency is prohibited. In addition, the owner is currently borrowed and has applied for a loan that forces the organization to discriminate against the property owner.

Care for Homeowners (SCHE) and Homeowners with Disabilities 

The law requires large local SCHE and authorities, including those over 65 and for some people with disabilities and low incomes, from the 2020 screening test to the 2021 screening test at the same level by May 1, 2021. This requirement provides a new customizable application for a person who can qualify for greater independence by 2021. Furthermore, local governments have the opportunity to establish a system in which researchers can request customizable requests from recipients. Inspectors believe that in 2021 he will no longer qualify for independence due to changes in his main residence, the addition of another owner’s property, the transfer of ownership to other properties, etc. Non-payers will have to opt for a new book in person.

Conclusion

In the short term, the new law will help prevent the sudden eviction of real estate and foreclosures. This could lead to a further downturn in the New York economy and an increase in the difficulties associated with managing the COVID-19 public health crisis from a residential perspective. However, opponents of the law, including New York’s largest landlords association, the Rent Sustainability Association, said a complete eviction that did not require proof of evidence of financial difficulties prevented tenants from paying for rent and was bankrupt. He expressed concern that it could escalate. Damage to New York City. Affordable housing infrastructure. Moreover, opponents believe that the evacuation moratorium is only helping to “throw away the cans” 2 and provide a temporary solution to the larger problem of poor housing costs reasonably high in New York City.