N.Y. Real Property Actions and Proceedings Law 1302 – Foreclosure of certain residential mortgages
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Terms Used In N.Y. Real Property Actions and Proceedings Law 1302
- Allegation: something that someone says happened.
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Plaintiff: The person who files the complaint in a civil lawsuit.