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Small businesses granted new foreclosure, eviction protections

Small businesses granted new foreclosure, eviction protections
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COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020

Recently the New York State Legislature passed, and the Governor promptly signed, the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 (“EEFPA”) into law. EEFPA was designed to dramatically slow or stop any eviction proceeding in the State and to provide relief to homeowners affected by the pandemic. Background Since Executive Order 202.8 was issued on March 3, 2020, initiating a temporary pause on eviction proceedings, prosecuting evictions in New York state has been fraught. After the initial moratorium was extended by E.O. 202.28 on June 30, 2020, New York tenants gained additional protections through the Tenants Safe Harbor Act (“TSHA”). Although some evictions were able to resume Oct. 1, 2020, New York State Unified Court System administrative orders, moratoria on default judgments, and court backlogs have also combined to stymie landlords’ efforts to remove nonpaying tenants. Via the latest executive order addressing evictions, the T

Governor Cuomo Signs the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020

Share Legislation (S.9114/A.11181) Places a Moratorium on COVID-related Residential Evictions and Foreclosure Proceedings Adds to New York State s Efforts to Protect Tenants and Homeowners Undergoing Economic Hardship Due to COVID-19 Governor Andrew M. Cuomo today signed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020. The Act (S.9114/A.11181) prevents residential evictions, foreclosure proceedings, credit discrimination and negative credit reporting related to the COVID-19 pandemic. It also extends the Senior Citizens Homeowner Exemption and Disabled Homeowner Exemption from 2020 to 2021. The Act adds to New York State s efforts to protect tenants and homeowners from the economic hardship incurred as a result of the COVID-19 pandemic.

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