The Daily Gazette
The Locally Owned Voice Of The Capital Region

New York not out of woods on foreclosures

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When the housing boom went bust and the bottom dropped out of the economy five years ago, state lawmakers became alarmed by the sharp rise in residential foreclosures in New York. First targeting subprime mortgages and later traditional loans, the Legislature made changes to state laws governing foreclosure that put the judiciary in charge of scheduling settlement conferences aimed at keeping borrowers in their homes and getting lenders repaid. The changes also required an annual ...

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