- New York is creating a 90-day safety period for homeowners snared in the national subprime mortgage crisis so they will be able to more fully understand their options. The new law will also criminalize some of the loan practices that contributed to the loss of more than 50,000 homes in New York so far.
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Today's NY Times reports that homeowners in New York who face foreclosure would be offered help by the courts to save their homes or at least make the overall process easier under a new program announced by the state's chief judge on Wednesday. The program calls for the creation of a new section ...