Finance

Oct 14 2017

Queens, NY #foreclosure #lawyers,bankruptcy #lawyers #in #queens,cheap #bankruptcy #lawyers,foreclosure #attorney #in #queens,lawyers #11375,how #to #stop #foreclosure,bankruptcy #attorney #in #queens,loan #modification #lawyers,modification #lawyers #in #queens,stop #foreclosure


#

FORECLOSURE

Foreclosure

Queens New York Foreclosure Attorneys

Queens | Brooklyn | Bronx | Nassau County

If you are a homeowner who is behind on your mortgage, you may be facing the prospect of losing your home. Have you been served with a summons and complaint? If so, then the bank has unfortunately commenced an action to foreclose on your home. The foreclosure process can be very stressful, and banks are difficult to negotiate with, and may be intimidating.

Many homeowners think that there is nothing that can be done. This is incorrect! There are many options and defenses available under the laws of the State of New York for homeowners. Our office has assisted many struggling homeowners through the foreclosure process. Your New York home is your most valuable financial asset, do not let the bank seize it without putting up a fight!

Hiring the right foreclosure defense lawyer to defend you can make all the difference between saving your home and losing it. Allow the attorneys of Poltielov Habib, LLP assist you through this difficult situation.

The Foreclosure Process

90 Day Pre Foreclosure Notice: Under New York State law, specifically RPAPL §1304, the mortgage loan servicer is required to send the borrower a notice at least 90 days before filing a foreclosure summons and complaint. The notice must have specific language and must attach a list of at least 5 nonprofit housing counseling agencies located near the borrower.

A foreclosure is a lawsuit that the lender files against a homeowner in the Supreme Court of New York where the property is located. New York is a judicial foreclosure state, which means that the lender must sue the homeowner in order to enforce their rights under the mortgage and note.

Step 1: The bank commences the lawsuit by filing a summons and complaint. The summons and complaint is generally filed in tandem with a “lis pendens ” in court. The lis pendes is a filing with the county clerk that puts the public on notice that the subject property is in litigation.

Step 2: The bank files an Affidavit of Service with the court, which sets the date and states how it served the homeowner/borrower. At this time, the lender must file a Request for Judicial Intervention (“RJI”) with the court to notify the court that it must schedule a mandatory settlement conference. The lender also must file an Attorney Affirmation with the court.

Step 3: A critical step in the foreclosure process . The borrower must file an Answer to the bank’s summons and complaint. Depending on how the summons and complaint are served, the borrower has 20-30 days to file the Answer. It is imperative that the homeowner file the answer within the allotted time, a failure to do so would place the borrower in default. This is the most critical part of the foreclosure process, and we cannot stress the importance of filing a timely Answer to the summons and complaint. Allow the foreclosure lawyers at Poltielov Habib to assist you in filing an Answer and to raise the proper affirmative defenses and counterclaims. Some defenses, if not raised in a timely answer or pre-answer motion to dismiss will be deemed waived, and will not be considered if raised at a later time in the foreclosure process.

Step 4: Within 60 days of filing the affidavit of service, the court, pursuant to CPLR §3408, must hold a settlement conference to see if the bank and homeowner can come to mutual resolution in the foreclosure process. The court will send the homeowner a notice of the settlement conference. This settlement conference is held before a referee (court attorney), not a judge. The settlement negotiations conducted through the foreclosure settlement part may yield a re-instatement, forbearance or mortgage modification. If the parties are able to reach a final resolution the lender will file a discontinuance of the action (meaning it will end the current suit). If a resolution is not reached, the referee will release the case from the settlement conference part and the case will move forward through the foreclosure process.

Step 5: If released from the settlement part, the case will move to litigation and the discovery phase of the process will commence. Discovery is a process that permits both parties to a lawsuit to request documents and statements from each other.

Step 6: After or before discovery the bank may make a motion for Summary Judgment to obtain an Order of Reference, and when granted, will then move for Judgment of Foreclosure and Sale. After the judge signs the Judgment of foreclosure and sale, the bank will publish a notice (if the homeowner filed an Answer or a notice of appearance) about the auction in a newspaper at least 30 days before the auction date.

Poltielov Habib, LLP Queens Foreclosure Defense Lawyers 118-21 Queens Boulevard, Suite 603, Forest Hills, NY 11375 (718) 520-0085 Foreclosurebankruptcylawyers.com


Written by admin


Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: