Assembly OKs 1-year foreclosure delay

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Assembly OKs 1-year foreclosure delay

Bills in 2 chambers aim to limit impact of subprime crisis

Thursday, May 8, 2008

The Associated Press

The state Assembly passed legislation Wednesday to impose a one-year delay on foreclosures when New York homeowners default on mortgage payments, while the Senate was poised to consider a related measure backed by Gov. David Paterson.
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