Foreclosure Defense Options
You are behind on your mortgage and are either in foreclosure or your bank is about to file. You may have tried to modify your loan with your lender and they have been less than cooperative. They want to throw you out of your home as soon as possible. You don’t know where to turn or what to do.
Help! I Was Just Served With Foreclosure Papers
Simply doing nothing is not an option. Due to the dip in real estate value between 2008 and the present, coupled with the major damage to the South Shore during Superstorm Sandy, many homeowners feel that repayment of their large mortgage loan is not in their best interests.
Nassau County and Suffolk County collectively have the most foreclosures in the state of New York. Due to this volume, courts in both counties are significantly backlogged. Foreclosures move the fastest when the homeowner does not respond to a summons and complaint by filing an answer with the court.
When a homeowner does not respond, the court grants a foreclosure on default, allowing the bank to expedite the process within a few months. By hiring an attorney to file an answer and assert many defenses a homeowner may have, the court can no longer grant a foreclosure upon default. However, the time in which to answer is severely limited, so please contact our office upon receipt of a foreclosure summons and complaint.
Additionally, may homeowners appear at a CPLR §3408 Settlement Conference before the court without filing an answer. Appearance at a settlement conference is not a formal answer and insufficient in of itself to protect your rights. If you have appeared at a settlement conference and not filed an answer, contact our office immediately.
New York Homeowner Protections
Due to the large swing in home value on Long Island and elsewhere in New York, the state has passed legislation geared at protecting homeowners. Attorneys at Macco Law Group, LLP, are up-to-date on the most recent legislation, and can protect your interests in the foreclosure court.
The governor has recently passed new legislation expanding certain homeowner protections to those borrowers with reverse mortgages. If you have a reverse mortgage and have fallen behind on your obligation to make payments, you are still subject to the foreclosure laws. If you have been served with a foreclosure action as the beneficiary of a reverse mortgage, please contact our office to discuss your rights.
Foreclosure Defense Options by Suffolk County Loan Modification Attorneys
Don’t let yourself become another victim of the bank’s ruthless tactics. Take action. Call us for a free consultation with a New York foreclosure defense attorney.