2006 New York Code - Mortgagee Or Successor In Interest May Purchase.

 
    * §  1409.  Mortgagee  or  successor  in  interest  may  purchase. The
  mortgagee, or its assignee, or the legal representative of  either,  may
  purchase  the  mortgaged  property, or any part thereof, at the sale and
  shall be entitled to bid. Upon any such bid up to the full amount of the
  indebtedness secured by the mortgage, including  unpaid  interest,  late
  charges,  costs  of  sale, reasonable attorneys' fees and disbursements,
  and advances made to protect the lien of the mortgage, the mortgagee, or
  its assignee, or the  legal  representative  of  either,  shall  not  be
  required to make any deposit at the sale or any payment of the amount of
  the  successful bid up to the full amount of the indebtedness secured by
  the mortgage, upon the delivery of the power of sale deed.
    * NB Repealed July 1, 2009