Directs how certain valuations and computations of the amount due are calculated in certain foreclosure actions.

This bill amends the real property actions and proceedings law to direct how certain valuations and computations of the amount due are calculated in certain foreclosure actions. It specifies that the referee shall reflect all sums owing under the note and mortgage as of the date of the proposed judgment. The bill also mandates that the computation in a form prescribed by the chief administrative judge must include unpaid principal balance, accrued interest, advances for taxes, insurance, and property preservation, contractual fees and charges, and court-approved costs and disbursements.

Directs how certain valuations and computations of the amount due are calculated in certain foreclosure actions.

This bill amends the real property actions and proceedings law to direct how certain valuations and computations of the amount due are calculated in certain foreclosure actions. It specifies that the referee shall reflect all sums owing under the note and mortgage as of the date of the proposed judgment. The bill also mandates that the computation in a form prescribed by the chief administrative judge must include unpaid principal balance, accrued interest, advances for taxes, insurance, and property preservation, contractual fees and charges, and court-approved costs and disbursements.