then proceed with settlement negotiation. The Home Equity Theft Prevention Act in New York has created some confusion regarding this frequently used method of settlement. It is unclear whether HETPA applies to deeds in lieu of foreclosure since there is no clear exclusion as there is for a referee's deed, for example. The 2-year right of rescission is not a risk that banks or title insurers are comfortable with, especially given the complexities of compliance, so many banks and title insurers in New York are not willing to work with deeds in lieu. See also Loss mitigation Foreclosure References What is deed in Lieu of Foreclosure? Foreclosure Legal documents United States housing bubble Housing law