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National News

The Times of India

National / The Times of India

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New York court upholds foreclosure dismissal after lender waited 3 years

In a significant ruling, a New York appeals court has supported the dismissal of a mortgage foreclosure lawsuit against a borrower after the lender delayed three years to seek a default judgment. New York regulations stipulate that lenders must act within one year of a borrower's non-response to avoid case dismissal. This decision reinforces homeowner protections and emphasizes the importance of timely legal actions in foreclosure matters.

24 Oct 2026 11:04 pm