In residential foreclosure, which statement is true about notices?

• A. Notices are served only on the mortgagor.
• B. There are statutory notices on colored paper served on the mortgagor and any tenant, in addition to the summons and complaint.
• C. There is no requirement to notify tenants about the foreclosure.
• D. There is an additional 60-day notice for high-cost loans before commencement.

Answer: (B)

In New York residential foreclosures, notices must reach both the mortgagor and any tenants, and those notices must be served on colored paper in addition to the summons and complaint. This requirement keeps occupants clearly informed that a foreclosure action has begun and helps ensure they receive important information about their rights and deadlines. Serving only the mortgagor would leave tenants in the dark about the proceedings and their possible protections, so the law mandes both groups be notified in a distinct, noticeable format. The idea of an extra 60-day pre-foreclosure notice for high-cost loans isn’t part of the standard NY foreclosure process, so that option doesn’t fit.