Long Island Foreclosure Defense Attorney
Foreclosure Frequently Asked Questions
Does the bank always have the right to foreclose on a home?
That depends. You should never automatically assume that it does. Since the foreclosure crisis in this country began, it has become common to find mistakes, questionable behavior, fraud, and other illegal actions taken by lenders that can be challenged in a foreclosure defense case. If you are facing a New York foreclosure as a homeowner, you should consult with a Long Island foreclosure defense lawyer at the Law Firm of R. David Marquez, P.C. who can review your situation and give you appropriate legal counsel concerning the issues involved.
How does the foreclosure process work in New York?
The road to foreclosure generally begins with notices, letters, or phone calls from the lender that your mortgage account is delinquent. If you do not handle the delinquency within a certain time limit, you may then receive an Acceleration Letter which calls your loan due. The simplified version of the foreclosure process involves the lender then filing suit against you with the court, after that you will be notified of the pending legal action. You will be asked to appear in court to respond. If you fail to appear, the court can rule in favor of the lender. If you appear and argue your case, the court will have to make a decision about whether the foreclosure should take place.
How long does the foreclosure process take in New York?
It can take up to 15 months in the state of New York, that is generally longer than most other states. The procedure leading up to the court ruling can take 7 to 9 months. If the court rules in favor of the lender, your home will then proceed to auction.
When is my mortgage considered "past due" to the point of a potential foreclosure?
Generally, it takes from 3 to 6 months of falling behind on your mortgage payments before a lender will initiate the foreclosure process.
What are my options in a foreclosure case?
Every case is different with its own set of circumstances. The options that may be available to you may be a loan modification, forbearance and repayment, paying the arrears, filing for bankruptcy, a short sale, or deed in lieu. It is important to get legal help from a qualified foreclosure defense lawyer who can assess your situation and help you explore all available alternatives.
Contact a Long Island foreclosure defense lawyer
at the firm to learn more about the specifics involved in your potential foreclosure and how you can fight back today.