The Foreclosure Process in Long Island
Foreclosure Information
If you are unable to make your mortgage payment, your bank or lender will foreclose on your home. This involves the lender getting a court order to revoke the owners' rights so that the lender can sell the property to another buyer in order to pay off the defaulted mortgage. Contact a Long Island foreclosure defense attorney today to find out more information on the foreclosure process. The foreclosure process can take from a few months or up to 15 months in New York.
Before initiating the foreclosure process, the bank or other lender could send a warning of impending foreclosure to the borrower, but this is not required under state law. The process involves the lender filing suit against the mortgage holder (you) and you are required to appear in court to respond to the suit. These court appearances should be managed carefully, and legal representation is critical at this point. There will be a "lis pendens" or a notice of a pending suit recorded at that time.
If you fail to appear at the court hearing, the court can rule against the borrower, and the foreclosure sale will move ahead. If the borrower appears, documentation can be submitted by the foreclosure defense lawyer that could help to avoid the foreclosure sale of your property. If the court rules against you, or if you do not appear at this hearing, a foreclosure sale will be scheduled by the lender. The foreclosure proceedings leading up to the court could take as long as 7-9 months.
During that time, you may be able to stay in your home while avoiding paying the mortgage or other costs. In some instances, negotiations can be worked out with the lender, allowing you to stay in the home, as well as paying you a fee to leave the home in good condition once the foreclosure is completed. Blutter & Blutter can help you negotiate the terms of your foreclosure and may be able to work with your lender towards getting you more time in your home , assist with a cash for keys arrangement, and find the alternatives that could help you avoid some of the damage to your credit that is part of any home foreclosure .
Experienced Foreclosure Defense Attorney
The firm has over 50 years of combined experience, just among the partners. The firm is small enough that you will always get the individual, personal legal help you are looking for, but large enough to dedicate time and resources to larger, more complicated cases. You will never get referred to a paralegal or secretary, but always be able to communicate with your attorney about the details and particulars of your case. The firm is a zealous advocate of homeowner rights, and they will fight tirelessly for your case, whether you want to keep the property or feel it would be in your interests to leave it .
Contact a Long Island foreclosure attorney today to learn more about the foreclosure process and find out if you can keep your home from being foreclosed on.