Long Island Foreclosure Defense Attorney
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New York State Foreclosure Calendar

How the foreclosure process works in New York State:

Day 1-15: A mortgage payment is missed.
Day 16-30: A late charge is assessed on payment. The loan servicer (the company that processes your mortgage payments) will send you a notice or otherwise attempt to make contact with you.
Day 45-60: The loan servicer will send a “demand” or “breach” letter pointing out that terms of the mortgage have been violated. You will be given 30 days to pay the delinquent amount and the late charge.
Day 90+: The servicer will begin the process of bringing a legal action for foreclosure. This may include referring the loan to its foreclosure department, hiring an attorney to initiate foreclosure proceedings, recording a formal notice of foreclosure or “lis pendens” with the court and serving you with notice of the action through a “summons and complaint.” These proceedings can take 7-9 months.

 

You will be notified of the foreclosure proceedings and asked to appear in court to respond. If you do not appear in court, the court can rule against you and schedule a foreclosure sale. If you do appear, the court will rule on whether a foreclosure can occur based on the evidence presented. If the court rules against the borrower (you) a foreclosure sale is scheduled.

The sale usually occurs at least 4 months after the court ruling. A notice of sale is published in a general circulation newspaper once a week for at least 4 weeks prior to the sale.

The foreclosure process in New York currently takes about 445 days (15 months) from the date of the first missed payment to the sale of the home.

*Foreclosure Defense will vary options will vary depending on the state the property is located in

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The information on this Young Law Group, PLLC website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.  The Young Law Group, PLLC is a New York licensed law firm.  The Young Law Group, PLLC concentrates in bankruptcy law and in foreclosure solutions.  The Young Law Group, PLLC is a debt relief agency as such term is defined under the United States Bankruptcy Code.

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80 Orville Drive, Suite 100
Bohemia, NY 11716
Phone: 631-244-1433
Fax: 631-589-0949
info@younglawgroup.org

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*Free consultations provided only when meeting with staff member(s) of Young Law Group, PLLC, other than Ivan E. Young, Esq. Any client wishing to specifically have an initial consultation with Ivan E. Young, Esq., personally, will be required to pay a $500.00 consultation fee; of which, may, at Ivan E. Young, Esq.’s sole discretion, be applied as a credit to future legal fees, should the client and Young Law Group, PLLC enter into an engagement agreement for legal services.* Website design: Long Island SEO