Foreclosure FAQs
These are general responses and do not constitute legal advice. Everyone’s circumstances are different. If you want advice on your specific situation, you should contact my office for a free consultation.
I just got served with a foreclosure lawsuit. How soon will I be out on the street?
The foreclosure process in New York normally takes anywhere from one to three years to complete. However, it is very important that you see an attorney immediately upon receiving the lawsuit papers (the Summons and Complaint). Your time to respond to the lawsuit is limited (usually between 20 and 50 days from your receipt of the papers), so you must act quickly. You always want to put in a response (an Answer) in a foreclosure lawsuit because that allows you to preserve all of your rights in the action. If you wait too long, you may lose some or all of these rights, including the right to raise certain defenses to the foreclosure action. Some of these defenses could result in the foreclosure action being dismissed, and so it is important to preserve them.
I got served with a foreclosure lawsuit, but I don’t have any ability to repay my mortgage.
Should I just accept the inevitable?
When a foreclosure action is commenced, you should always file an Answer in the action. While you may not be able to ultimately save your home, you will be able to gain additional time in the home that you would not have had if you don’t participate in the lawsuit. That additional time will provide you with not only additional time in your home, but additional time during which you can stockpile money that you will need to secure new housing.
I was served with a foreclosure lawsuit two years ago and did nothing. Is it too late for me to act?
No, its never too late to take action. While some of your options may have been lost in the delay, there are almost always options available to you that should be explored. Consultation with an attorney to determine your legal rights and potential remedies is always the best answer.
There is a foreclosure sale scheduled for my house. Can I do anything to stop it?
There are several legal remedies available that will stop a foreclosure sale that has already been scheduled. These remedies include the filing of an Order to Show Cause in the foreclosure court (provided that grounds exist to file one) and the filing of a bankruptcy. A consultation with an attorney will allow you to determine which, if any, of these remedies are available to you.