The New York Foreclosure Addendum (UCS-840F) is a form used in New York State to modify a residential mortgage loan in the context of a foreclosure action. It is used by the lender to provide notice to the borrower of the lender's intent to foreclose. The addendum must be signed by both the lender and the borrower and is required to be filed with the court in order to start a foreclosure action. The New York Foreclosure Addendum (UCS-840F) is available in two forms: the Standard Addendum and the Modified Addendum. The Standard Addendum is the most commonly used form and contains the basic terms and conditions of the foreclosure. The Modified Addendum is used in the case of a modification of the terms of the loan, such as a loan modification or a short sale. The New York Foreclosure Addendum (UCS-840F) outlines the terms of the foreclosure, including the amount owed and the date by which payment must be made. It also includes information on the process for filing a foreclosure action, the timeline for the foreclosure, and the consequences of non-payment. Additionally, it outlines the rights of the borrower, including the right to a hearing to contest the foreclosure.
New York Foreclosure Addendum (UCS-840F)
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