New York 2025-2026 Regular Session

New York Senate Bill S08595

Introduced
12/3/25  
Refer
12/3/25  

Caption

Directs how certain valuations and computations of the amount due are calculated in certain foreclosure actions.

Impact

This legislation aims to standardize how amounts due in foreclosure actions are computed, potentially impacting state laws concerning real estate and foreclosure processes. The new stipulations intended to enhance clarity in calculations could help prevent disputes regarding what constitutes the total amount due, thereby streamlining foreclosure proceedings and making them more predictable for both lenders and borrowers.

Summary

Bill S08595 proposes amendments to the real property actions and proceedings law regarding the calculation of amounts due in foreclosure actions. Specifically, the bill requires that a referee, when determining the amount owed, must reflect all sums owing on the note and mortgage as of the proposed judgment's date. The computations must itemize various elements such as principal balance, accrued interest, and other related fees, ensuring transparency and specificity in all valuations.

Contention

While the bill appears to offer clearer guidelines for foreclosure valuations, there could be contention surrounding the potential for increased scrutiny and documentation required by plaintiffs. Concerns may arise from lenders about having to provide extensive documentation for claims that might slow down the foreclosure process or create additional litigation if the required documentation is deemed insufficient. Opponents could argue that these requirements may inadvertently hinder swift action in necessary foreclosure cases.

Companion Bills

NY A09352

Same As Directs how certain valuations and computations of the amount due are calculated in certain foreclosure actions.

Previously Filed As

NY A09352

Directs how certain valuations and computations of the amount due are calculated in certain foreclosure actions.

NY A11257

Clarifies and codifies the limits of quasi-judicial immunity applicable to referees appointed in mortgage foreclosure actions; ensures accountability for misconduct and ultra vires acts.

NY S10086

Clarifies provisions governing when foreclosure actions are deemed abandoned for failure of a plaintiff to timely seek a default judgment; governs when foreclosure actions are deemed terminated for purposes of the savings clause permitting actions to be recommenced following termination of a prior action and be deemed timely; governs the finality of dismissed or discontinued residential foreclosure actions.

NY A11239

Permits a plaintiff to recover directly against a third party defendant found to be liable to the defendant in certain actions.

NY S09533

Permits a plaintiff to recover directly against a third party defendant found to be liable to the defendant in certain actions.

NY A08222

Relates to the statute of limitations for certain deed theft actions; revives such actions otherwise barred by the existing statute of limitations and states who may bring such actions; grants trial preference to such actions; directs the chief administrator of the courts to promulgate rules for the timely adjudication of certain revived actions.

NY S07491

Relates to the statute of limitations for certain deed theft actions; revives such actions otherwise barred by the existing statute of limitations and states who may bring such actions; grants trial preference to such actions; directs the chief administrator of the courts to promulgate rules for the timely adjudication of certain revived actions.

NY A00067

Provides for the calculation and analysis of certain health center costs.

NY S04589

Provides for the calculation and analysis of certain health center costs.

NY S08149

Provides for an alternate final average salary calculation for Triborough bridge and tunnel members where such calculation includes certain dates.

Similar Bills

No similar bills found.