90 Day Pre-Foreclosure Notice I just received a 90 day pre-foreclosure notice; what does this mean? NY foreclosure law now requires that a 90-day pre-foreclosure notice be sent to many homeowners facing foreclosure. The 90-day notice requirement must be sent to homeowners, at risk of foreclosure, who own and occupy a 1-4 family dwelling as […]
Read MoreScheduled Foreclosure Settlement Conference I received a notice to attend a foreclosure settlement conference, what should I do? Go! If you are facing foreclosure and the court has scheduled a foreclosure settlement conference for you, you should attend or hire an attorney, probably for a lot less than you may think, to attend on your […]
Read MoreMany tenants are finding out that the property they are renting has been foreclosed on. As I stated in an earlier post, NY foreclosure law now requires that tenants residing in foreclosed properties receive written notification of the change in ownership of the property. The law also requires that the tenant be allowed to remain […]
Read MoreYour lender brought a mortgage foreclosure action and obtained a default judgment against you. So, it’s game over and you are bound to lose your home to foreclosure, right? Not necessarily! The scenario usually goes something like this: Your mortgage lender brought a foreclosure action against you and allegedly had you served with a summons […]
Read MoreIn 2009, Governor Paterson signed foreclosure legislation aimed at protecting homeowners and tenants. Protection For Homeowners: NY foreclosure law now requires that a 90-day pre-foreclosure notice be sent to all homeowners facing foreclosure. This notice is sent prior to the start of the foreclosure action and allows additional time for many homeowners to work with […]
Read MoreI’m facing foreclosure, What can I do? Some of your options: 1. Do something: -Call your lender and try to arrange a Loan Modification, Refinance, short sale, or Deed-in-Lieu of foreclosure. -Loan Modification- A Loan Modification is a permanent/temporary change in one or more of the terms of your mortgage loan. Ideally, this will result […]
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