When trying to find a New York Foreclosure Attorney, there are a few things to keep in mind. Every state is different when it comes to foreclosure laws. Because of this, the first thing you need to do is make sure that your attorney is licensed to do business in the same state as your property. In order to proceed in a foreclosure case, your attorney must have a license to do business in that state.
New York Foreclosure Process
In New York, the foreclosure time line is slightly different. The bank must give extra notice to a homeowner if the property is the homeowner's primary residence and not an investment property. A pre-foreclosure notice must be issued 90 days before foreclosure begins. This gives the homeowner time to come to an agreement with their bank and also aids the homeowner by listing numbers of not-for-profit government agencies who can assist the homeowner in getting current on their loan payments. If the 90 days passes and the homeowner is unable to reach an agreement with the bank, the homeowner can be served foreclosure.
Settlement Conference
In New York, once foreclosure has been served, the court is required to schedule a settlement conference within 60 days. This is an opportunity for the homeowner to meet face to face with their lender. At this time, many people decide to hire a New York Foreclosure Attorney to attend this conference with them. Going to foreclosure proceedings without the help of an attorney is considered very dangerous considering banks have entire teams of lawyers on their side.
In New York, you must respond to the foreclosure complaint or the court is able to rule against you and schedule a foreclosure sale. At the settlement conference, you will be required to prove income and provide other information to the court that can be crucial to your case. At this time, the court will rule for or against a foreclosure sale.
Sale Date
The sale date is usually set about 4 months after the court ruling. A good New York Foreclosure Attorney will be able to prolong the sale of your home while simultaneously trying to work with the banks to get a loan modification and keep you in your home. The longer you wait to hire a New York foreclosure attorney, the lower your chances of getting a positive outcome will become.
How long will foreclosure take?
"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."- According to the Department of Financial Services.
The best time to hire an attorney in the state of New York is before the foreclosure process begins. The longer a homeowner takes to take action, the fewer options your foreclosure attorney will have in presenting your case. The best time to hire a foreclosure defense attorney is before you are served foreclosure papers. Make sure to find a New York foreclosure attorney who also provides loan modification help and is licensed to practice in your state. A good foreclosure defense attorney will answer all of your legal questions and take everything into consideration before presenting your case to the courts.
