An Update on the Home Mortgage Bridge Loan Assistance Act

Hi Friends,

Early last year, I noted with pleasure some progress underway in connection with a truly 'win-win' mortgage bridge loan statute I'd drafted with a friend and colleague at FRBNY.  Today I am pleased to be able to report that the same is now S 5035, under consideration in the New York Senate.  Here is hoping it passes in what remains of the current legislative session, for reasons elaborated in brief at the previous link and more fully here.

Hope you all are enjoying a truly beautiful weekend like that underway at least here in New Haven today,

Bob

 

Cross-Posted at MOJ

Comments

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[Bob Hockett]

Thanks much, Patrick. It's very gratifying to find seriousness about this rare opportunity to help creditor, debtor, and community alike in connection with the continuing fallout of the housing bubble and bust!

All best,
Bob

[Patrick S. O'Donnell]

Wonderful news, Bob. Let's hope it does pass. Congratulations either way!