New York A01716 prohibits lenders from blocking access to funds from a credit line mortgage if the borrower is current on repayment.

New York A01716 amends the real property law to ensure that authorized lenders cannot revoke or block a borrower's access to credit line mortgages if the borrower is current on repayment. This provision applies to credit line mortgages authorized under the real property law. The amendment takes effect immediately upon enactment.

New York A01716 prohibits lenders from blocking access to funds from a credit line mortgage if the borrower is current on repayment.

New York A01716 amends the real property law to ensure that authorized lenders cannot revoke or block a borrower's access to credit line mortgages if the borrower is current on repayment. This provision applies to credit line mortgages authorized under the real property law. The amendment takes effect immediately upon enactment.