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Failure to give proper notice to a homeowner under New York’s foreclosure fraud law is a defense that can be raised at any time, a Brooklyn appeals court has ruled in a decision of first impression at the state appellate level.
In dismissing a foreclosure suit against homeowner Alan Silver, a panel of the Appellate Division, 2nd Department, held that the lender seeking to foreclose had the burden of showing strict compliance with the state’s Home Equity Theft Prevention Act.
The act, codified in Real Property Law §265-a, requires that a homeowner be served with a foreclosure notice on a separate, colored page with a “bold, twenty-point type” title and “bold, fourteen-point type” in addition to a summons and complaint.
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