A lender in New York is foreclosing on a property that serves as the borrower's primary residence. The borrower has requested a settlement conference. What happens if the lender fails to appear at the scheduled settlement conference with proper authority to negotiate?
Correct Answer
C) The court may impose sanctions and delay the foreclosure
If a lender fails to appear at a mandatory settlement conference with proper authority to negotiate, the court may impose sanctions against the lender and delay the foreclosure proceeding. New York law requires meaningful participation in settlement conferences.
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Related Topics & Key Terms
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