Are you worried you might lose your home in a New York foreclosure? You’re not alone, and you do have rights. The sooner you understand them, the better your chances of staying in control of your situation. Here’s what you need to know.
An Overview of Your Rights During a New York Foreclosure
If you’re facing foreclosure in New York, you still have important rights. Below are key protections that New York law provides once your lender starts a foreclosure case.
Your Right to Receive Proper Notice
Before a lender can start a foreclosure case in New York, they must send you a 90-day pre-foreclosure notice. This letter must warn you that you’re behind on payments and that the lender may file a lawsuit. It must also include contact info for housing counselors. If the lender skips this step or sends it late, the court may dismiss the foreclosure case.
Your Right to Respond to the Lawsuit
Once the lender files the foreclosure case, you’ll get a summons and complaint. You have 20 or 30 days to respond, depending on how you received it. You must file an answer to tell the court your side. If you skip this step, the court may let the lender win by default.
Your Right to a Settlement Conference
If you live in the property, the court will schedule a settlement conference early in the case. This gives you and the lender a chance to work out a deal. You can ask for a loan modification or other assistance. The court may pause the case while you try to settle. You must attend, or the court can let the foreclosure move forward.
Your Right to Defend Against Foreclosure
You can raise legal defenses when you answer a foreclosure complaint. Some common defenses include mistakes in your loan records, failure to send the right notices, or the lender not owning the loan. If the court agrees with your defense, it may dismiss the case.
Your Right to Request a Loan Modification
You may apply for a loan modification during the case. A modification could lower your monthly payments or extend the loan. If you apply in good faith, the lender must review your application fairly. The court may supervise talks to keep this process moving.
Your Right to Stay in the Home During the Process
You can stay in your home during foreclosure proceedings. The lender can’t remove you unless the court orders it after a final judgment. This process takes time, often many months or even years. Until then, you can continue to live there. If someone tries to force you out early, you can contact the court or a lawyer to stop it.
Your Right to Protection from Illegal Practices
New York law protects you from unfair treatment during foreclosure. For example, a lender can’t move forward with a case while reviewing a loan modification request. This protects you from “dual tracking,” where the bank continues foreclosure proceedings while pretending to help. You also have the right to protection from scams. No one can demand upfront fees to stop foreclosure or promise fake help.
How a Foreclosure Defense Lawyer Can Protect Your Rights
A lawyer can review your foreclosure case, explain your rights, and help you explore your options. You might have defenses against the foreclosure, but you must raise them early. An attorney can help you apply for a loan modification, attend court conferences with you, and speak to the judge on your behalf. If the lender made mistakes, your lawyer can help you point them out. You don’t have to face foreclosure alone. Legal advice can help you understand what to expect and how to protect your home.
Contact a Foreclosure Defense Attorney in New York
If you’re dealing with foreclosure in New York, don’t wait to get answers. Contact Kohan Law Group to review your situation and discuss your next steps in an initial consultation.