WRO Update on Measures to Prevent Evictions and Mortgage Foreclosures During the Pandemic

In the wake of the current Covid-19 pandemic, various measures have been adopted impacting on both eviction and mortgage obligations. New initiatives and measures are being introduced and discussed by governments and individual banks and landlords on an ongoing basis, so be sure to investigate your own individual situation carefully.

Evictions & Utility Shut-Off:

Evictions in NYS: All evictions in NYS are stayed by state court order, pending further notice. This includes evictions from homes following a foreclosure sale. See the announcement here.

Additionally, lawmakers in New York have introduced legislation banning evictions and foreclosures during the pandemic and during future emergency declarations.

New York City also announced a moratorium on evictions. Some New York City landlords have even announced their own pledge vowing to halt evictions for 90 days.

Utility Shut-Offs: Con Edison has suspended shut-offs. See their announcement here.

Department of Social Services:

• Still in operation for emergency food stamps

• All other services just may take longer for a decision (arrears inquiry or utility assistance)

Mortgages:

On Thursday, March 19, 2020, the NY State Department of Financial Services issued a new directive to mortgage servicers to provide 90-day mortgage relief to mortgage borrowers impacted by the novel coronavirus.

The directive includes:

• Waiving mortgage payments based on financial hardship;

• No negative reporting to credit bureaus;

• Grace period for loan modification;

• No late payment fees or online payment fees; and

• Postponing or suspending foreclosures.

A copy of the DFS mortgage directive is available here.