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Financial Services Law Insights and Observations

New York extends commercial foreclosure restrictions

State Issues Covid-19 New York Foreclosure

State Issues

On August 20, the New York governor issued Executive Order 202.57, which extends various earlier executive orders. Among others, the executive order extends through September 19, 2020, the directive in Executive Order 202.48 relating to the initiation of a proceeding or enforcement of an eviction of any commercial tenant for nonpayment of rent or a foreclosure of any commercial mortgage for nonpayment of such mortgage.  

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