On Thursday, Cuomo said mortgage payments and foreclosures in New York will be suspended for 90 days in light of the pandemic. There will also be a grace period for loan modification, no negative reporting to credit bureaus and no late or online payment fees for the next three months.

Evictions are suspended indefinitely. New York state has suspended eviction proceedings and pending eviction orders until further notice.

Some lawmakers want to suspend construction in the city during the outbreak both to protect workers and divert resources to more crucial projects.

Cuomo has authorized notaries in New York State to sign documents virtually — a move that will keep real estate moving on the heels of an announcement that only essential workers may go to work. Brokers and attorneys said the move — which is good for business in general — would facilitate pending real estate deals, and prevent a logjam of closings.

(source: NYC Curbed and The Real Deal Image: NYC Curbed)