NY Foreclosure Defense Attorney Consultation

Finding out your home’s at stake can cause anyone paralyzing fear. It’s an understandable reaction, but don’t let it actually paralyze you from seeking legal representation. When your home’s at stake, lingering is not an option. If you want the best chances for saving your home, promptly consult experienced real estate attorneys — like the Law Office of Yuriy Moshes, P.C.

We’ll provide the support you need throughout the judicial foreclosure proceeding. Recognized as one of the top foreclosure defense lawyers in NY, Moshes Law will work with you every step of the way. Don’t waste any more time and get your free consultation today.

Looking for a Knowledgeable Foreclosure Defense Attorney, NYC?

If you default on the mortgage payments, lenders have the liberty to use your house as collateral for the nonpayment. After 120 days of delinquency, a 90-day pre-foreclosure notice can be sent. Generally, New York requires judicial foreclosures and only allows non-judicial proceedings in specific circumstances.

Once the notice’s 90 days are up, the lender can file the required lawsuit against you to officially begin the foreclosure proceeding. The court has to approve the foreclosure before the lender can sell the house at auction. By receiving court approval, the lenders can mitigate their losses by proceeding to an auction.

If you’re facing foreclosure, there are several options available for you. However, these options have a much higher chance of success with the help of a foreclosure defense attorney. New York has several requirements for lenders filing foreclosure proceedings. Hiring an experienced attorney is crucial for saving a home from a foreclosure auction. 

What Our Foreclosure Professionals Can Do for You: 

Homes are personal, and foreclosures are private matters. The Law Office of Yuriy Moshes can guide you through swiftly stopping a foreclosure. This will minimize any feelings of vulnerability. We want to assure you that we’re here to help you and your family in this time of need. COVID-19 hasn’t ended, and the ensuing fiscal instability will be felt for some time after.

Read the sections below for explanations of a few options. During such volatile times, get some help on your side. Our firm is ready to guide you through your options during a free consultation. We can jointly decide on the best options for your particular case. Let’s save your house together. Get your free consultation today.

Stop your foreclosure sale date.

Two ways we can stop the sale date are: (1) by the Right of Redemption or (2) by showing good cause for setting the sale aside. With the foreclosure stopped, your worries may disappear. Both of these methods are State-specific, showing the value of an experienced handling your foreclosure defense. New York has complicated regulations that require legal familiarity. Hire New York foreclosure defense attorneys like Moshes Law.

1. Right of Redemption: New York provides its Citizens with the Right of Redemption period. Before the sale is completed, New Yorkers can pay the delinquent amounts on their defaulted mortgages and redeem their homes any time before the home is sold at a foreclosure auction. 
2. Good Cause for Setting the Sale Aside: By filing an Order to Show Cause with the court, you can request the court to set the sale aside. An example of a good cause would be one of the recognized defenses to foreclosures. If your lender violated the law, committed fraud, or breached your contract, you can set the sale aside. Check to see if the pre-foreclosure notice fits State requirements. 

Lower your mortgage payments.

Loan modifications can allow you some flexibility. Added flexibility means you’ll have a better chance at paying the defaulted mortgage. Lenders will possibly agree to a loan modification that allows your monthly mortgage payment to be lower. By either increasing the years left on your repayment term or lower the interest rates, your monthly payment would be decreased. 

This loan modification would be in lieu of foreclosure, giving you the ability to keep your home. Negotiating may seem overwhelming, but this feeling can be eased through a foreclosure defense attorney. NYC is a brutal real estate market. Hiring someone to fight in your corner could be the key to your success.  

Lower your principal balance.

Again, 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. 

Keep you on your property.

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. 

Our Law Firm’s Process:

Moshes Law promises full transparency with our clients. The sections below explain our firm’s general method of attack. We tweak the method as we need and as the client suggests. Don’t be afraid to be vocal about your wants and needs. At the end of the day, this is your home. We will follow your lead and advise when necessary. 

1. Assessing your situation: Each foreclosure proceeding is unique. Through the lens of an attorney with experience, we thoroughly assess the situation at hand. Carefully going through all the paperwork related to your mortgage, we will plan our next few moves.
2. Determining your best solution: Once we’ve reviewed all the intricate details and documents, we can begin strategizing. Together, we will determine what is the best answer to give in response to the summons. We will work alongside you, so you know what’s going on with your foreclosure at all times. 
3. Implementing your defense: After reviewing all the documents and details, we will be able to determine if any defenses are available. If there are defenses available, we might be able to set aside the foreclosure entirely.

Common Foreclosure Defenses Our Attorney Uncovers: 

It’s complicated choosing the correct foreclosure defense — NY has several State requirements that need to be abided by. Additionally, there are Federal laws to think about, along with all of the other several factors. Get the help of a foreclosure defense lawyer to choose the proper defenses for your case. Having an experienced attorney explain each of these factors is essential. With a free consultation, Moshes Law can start fighting for your home.

Lender violated Federal and/or New York State law.

If the lender didn’t follow the Federal or State laws regarding the foreclosure process, the sale can be set aside. These laws were enacted to protect homeowners from bank lenders. The administration wanted to minimize the risk of banks taking advantage of the everyday person. 

That being said, there are numerous places that the lender could have gone wrong. Since the pandemic began, the first place to begin is asking if the COVID-19 moratoriums were followed. 

The following defenses are also violations of the law. However, each of these defenses has certain nuances that need to be explained. Read through these explanations and ask for further clarifications during your free consultation.

Lender failed to make required disclosures prior to closing on the loan.

• Did the pre-foreclosure notice fit State requirements? 
• Did the lender provide you with federal resources for assistance with your summons? Did you receive assistance information in a second form — e.g., by phone or in person?
• Did the notice summoning you to court follow Federal and State requirements? 
• Was the notice clearly distinguished in large, bold letters? 
• Was the summons properly delivered to you, following the requirements for service?

All of these disclosures are required. These laws are in place to protect homeowners from predatory lenders. Lenders are not allowed to blindside homeowners with a foreclosure suit. 

Lender breached the loan contract.

A breach has occurred if:

• Your interest payments don’t match what is detailed in your contract.
• The monthly payments are higher than what was agreed upon.
• Federal resources weren’t provided for you to help with your defaulted loan.
• Your payments weren’t correctly reported to credit bureaus.  
• The lender fails at any of its contracted duties to you. 
• The lender didn’t assign a servicer to help you through delinquency. 

Lender committed fraud and/or engaged in predatory lending practices.

Fraud is a very serious accusation, but lenders have a past record of being predatory against unassuming homeowners. Below is a list of several fraudulent practices that would set aside a foreclosure sale: 

• Was your credit information recorded maliciously? 
• Were you misguided during the loan application process?
• Are you mentally incompetent at the time of signing — invalidating the contract?
• Is the interest rate higher than your qualifications?
• Were you coerced into taking out a loan that you couldn’t have reasonably afforded?

If you think any of these apply to you, please consult a foreclosure attorney for further advice.

Lender has no standing in court.

When you sue someone, you need to have standing. Standing means that Plaintiff has the right to sue this person. The right to sue means:

1. suing in this court
2. in this manner 
3. at this time 
4. for the specific complaint the Plaintiff filed in court. 

Varying State and Federal laws may add factors that can affect standing rules. But typically, Plaintiffs in civil cases have to show that the other party caused them some sort of injury. Additionally, the Plaintiffs have to show that this injury can be fixed by the other party’s money.

Lender lost the promissory note or mortgage.

The lender has the responsibility to show that you owe them money. To prove this in court, the lender has to show the contract and other related paperwork with the promissory note or mortgage. If the lender misplaces these documents, then the lender no longer has standing.

Lender has no ownership rights in the promissory note or mortgage.

If the lender doesn’t have the legal right to the promissory note or mortgage, the lender doesn’t have standing. The lender can’t sue you for a delinquent amount that didn’t harm them. You don’t owe them anything. 

New York’s Foreclosure Process

If you’re being sued for foreclosure, as soon as possible, hire an experienced foreclosure defense lawyer. NYC will eat you alive without legal representation. Get a free consultation with one of the best attorneys in Greater New York and save your house today.

1. Lender files a lawsuit in court: After waiting 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 proper documents.

2. Homeowner’s Response: 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 defenses. It’s best to consult a foreclosure attorney for the answer.

3. Meeting the Lender / Settlement Conference: 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. 

4. Settlement or Litigation: If an agreeable resolution was reached, then the settlement process has begun. Once a settlement has been reached, the lender has to drop the suit with the court within 150 days. If a resolution wasn’t reached, or if you didn’t come to the meeting, the suit continues to court. Parties are expected to litigate in front of a judge to proceed.

5. Final Judgment / Auction of the Home: 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’s 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.

6. Right of Redemption: 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 affiliated costs, such as court fees.

Why Choose Us as Your Foreclosure Defense Lawyer?

The value of an attorney with the experience of Yuriy Moshes is understated. You would be surprised how many lenders make mistakes in this process. We will wait patiently and intently watch for mistakes. Hire Moshes Law to double-check your lender.

Read our clients’ success stories!

• In January 2018, Moshes Law was able to convince the Appellate Court to reaffirm a dismissal of a foreclosure lawsuit. The bank was outside of the statute of limitations, so it couldn’t sue for repayment.
• In. December 2017, JBBNY, LLC. V. Begum was reaffirmed by the Appellate Court. This reaffirmation officially dismissed the foreclosure brought against our client, Ms. Khadija Begum.
  • In 2007 — one year before the market collapse — Ms. Begum entered into a mortgage with Wachovia Bank. 
  • Because of the collapse, Ms. Begum couldn’t afford the mortgage anymore. She got behind on payments, and the lender filed a foreclosure lawsuit. 
  • Wachovia Bank was past the statute of limitations when it was asking the court for a repayment order. The lender no longer had the standing to sue for the mortgage repayment.

Frequently Asked Questions:

Request a Consultation from the Best Foreclosure Defense Attorney, NYC! 

Do you need a lawyer for foreclosure defense, NY? Get a free consultation from one of the best in Greater New York. Yuriy Moshes has years of experience successfully helping hundreds of homeowners. 

Real estate attorneys are required to be knowledgeable in several branches of law. A free consultation with our firm could be the ease of mind you need. Get yours today.