Bill > S06146

This bill modifies the Real Property Actions and Proceedings Law by changing the maximum registration fee that local governments can charge for residential mortgages in default. Specifically, the bill increases the annual cap on registration fees from $75 to $500, which means cities, towns, and counties can now charge up to $500 per year for registering mortgages that are in default. The bill maintains a key protection for homeowners by explicitly prohibiting mortgage lenders or their agents from passing these registration fees onto the homeowner who is in default. This type of local registration requirement is typically designed to help municipalities track and manage properties at risk of foreclosure, and the increased fee may provide additional resources for local governments to monitor and manage these properties. The bill would take effect immediately upon becoming law.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S6146