COVID-19 EMERGENCY EVICTION AND FORECLOSURE PREVENTION ACT OF 2020

New York

By: Akanksha A. Panicker

The New York State Legislature has adopted legislation that extends the moratorium on residential evictions to more than one year from the initial Executive Order 202.8 in March of 2020, through May 1, 2021. Governor Andrew M. Cuomo signed the new COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 in furtherance of the same, wherein residential evictions, foreclosure proceedings, credit discrimination, and negative credit reporting related to the COVID-19 pandemic are curtailed. An additional feature of the Act sees the extension of the Senior Citizens’ Homeowner Exemption and Disabled Homeowner Exemption from 2020x to 2021, creating an all-around effect of protection for tenants and homeowners from the economic hardship incurred as a result of the COVID-19 pandemic.

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