Judiciary
Foreclosure Court Planned in New York
Posted Jun 19, 2008, 10:44 am CST
By Martha Neil
Faced with a 150 percent increase in foreclosures since January 2005, the chief judge of New York has decided a special court is needed to handle these cases.
Judge Judith Kaye says it will begin doing so on a pilot basis in the borough of Queens this summer, reports the New York Times. One part of the plan, which will be voluntary, is a settlement conference to help alert the borrower to possible options.
“New Yorkers are losing their homes in record numbers,” the judge said yesterday at a Manhattan news conference. “Some neighborhoods are being ravaged by foreclosures. Can we be part of an influence for the good?”
Hat tip: Wall Street Journal Law Blog.
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