After 120 days of delinquency and another 90 days after the pre-foreclosure notice, the lender can file a foreclosure lawsuit. The sale date has to be at least 45 days after the filing. Additionally, the lender has to file a notice that says that they properly served the homeowner with the correct documents
Once the homeowner receives the complaint, the summons, and the accompanying financial assistance information, a prompt answer is expected. Without an answer or appearance, the court will default for the lender — approving the auction. The answer can be an Order to Show Cause with your defense. It’s best to consult a foreclosure/real estate attorney for the answer
Within 60 days after the lender files the proof of service, both parties are required to meet for a settlement conference. You meet with the lender, advisably with an attorney, and the parties try to find a resolution.
If an agreeable resolution is reached, then the settlement process begins. Once a settlement has been reached, the lender has to drop the suit with the court within 150 days. If a resolution isn’t reached, or if you didn’t come to the meeting, the suit continues in court. Parties are expected to litigate in front of a judge to proceed.
Both parties litigate their cases in court, and the judge comes to a final judgment after hearing both sides. If you don't appear in court, the judge will default for the lender, and the auction is ordered. You have lost the case, and once the house is auctioned, you'll be evicted from your home. The lender will sell the house to the highest bidder, mitigating their losses from the defaulted mortgage.
In New York, the Right of Redemption requires payment of the delinquent amounts any time before the sale is finalized. By paying the debt directly to the lender or the court, you can halt the foreclosure — saving your home. The delinquent amounts include the principal, the interest, and other affliated costs, such as court fees.
Everyone’s circumstances are different, but in general, working with an attorney during the foreclosure process
comes with definite advantages. Here are some of the ways that we can help:
You may be eligible for a loan modification that could extend the term of your loan or lower the interest rate, which will stop the foreclosure process and leave you with a reduced monthly rate.
Borrowers have the option of modifying their defaulted mortgages. This can help you pay off the delinquent amount and save your home. You can delay the principal so you can make a balloon payment that’s due on a later date. Lenders may forgive a portion of the delinquent amount — either on conditional or unconditional terms.
By citing Right of Redemption (see above) or filing an Order to Show Cause (establish that the lender has violated the law or breached your contract), we can set the sale date aside.
Just because the house is foreclosed doesn’t mean you have to move out. The sale date must pass before the eviction process can begin. For the sale date to be finalized, the court must approve the foreclosure and order the auction. Even after the court order, auctioning could go on for months before a sale is made. Since the eviction process doesn’t start until the above process is completed, you can remain in your home. Until everything is said and done, you can continue staying there.
Yes. Our attorneys will carefully assess your situation, ask you any pertinent questions, and give you our honest opinion on what your best-case scenario is. If we see an valid defense, we will get started right away on your strategy. Some common foreclosure defenses include:
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A foreclosure defense lawyer helps homeowners fight foreclosure by identifying legal issues in the lender's case, negotiating loan modifications, filing legal defenses, and representing clients in court to help them keep their homes.
Yes, a foreclosure attorney can delay or stop the foreclosure process by challenging improper procedures, requesting loan modifications, or filing bankruptcy if necessary. Every case is different, so it's best to consult a lawyer.
You should contact a foreclosure lawyer as soon as you receive a notice of default or suspect you may miss mortgage payments. Early legal intervention can provide more options to protect your home.
The cost varies depending on the complexity of the case. Some attorneys offer flat fees, while others charge hourly. At Moshes Law, we offer a free consultation to discuss your situation and provide transparent pricing.
Yes, in most cases, you can remain in your home throughout the foreclosure process, which can take months or even years in New York. A lawyer can help you understand your rights and delay eviction if needed.
Legal options may include loan modification, short sale, deed in lieu of foreclosure, Chapter 13 bankruptcy, or litigation. A foreclosure defense attorney can evaluate your case and recommend the best path forward.
Get to know your Foreclosure Defense Attorneys
Facing foreclosure can be overwhelming, but you don’t have to navigate it alone. Our dedicated foreclosure defense attorneys are here to provide the support you need. We understand the complexities of foreclosure laws and will fight diligently to protect your rights and your home.
517 Brighton Beach Avenue, 2nd Floor Brooklyn, New York 11235
111 Town Square Place, Suite 1236-C, Jersey City, NJ 07310
500 7th Avenue, New York, NY 10018
42 Guy Lombardo Ave, Freeport, NY 11520
We are here for you on evenings, weekends and holidays and will work around your schedule to defend your rights.
