Understand The Foreclosure Process
The mortgage crisis has struck Long Island and Queens residents especially hard. Many are seeking help and trying to stop foreclosure actions and protect their homes.
Foreclosure is a legal remedy available to the mortgage lender if you fall behind on your monthly mortgage payments. If you have not paid your mortgage in three months or more, a foreclosure could be anticipated in the near future if one has not been filed already
As with any litigation, you will be served with a foreclosure summons and complaint and from that point, the clock starts ticking. Once the foreclosure starts, you have twenty or thirty days to respond depending on how you were “served.”
It is likely that someone will personally serve you with the foreclosure summons and complaint. Alternatively, it could be left on your door and a follow up copy mailed to you at a later date.
If you do nothing, a default foreclosure judgment will be entered against you and your home could be put up for sale at an auction!
If you have been sued in foreclosure, do something! You can fight back using Foreclosure Defense procedures to help you stop foreclosure. Chapter 7 Bankruptcy and Chapter 13 Bankruptcy are also available as bankruptcy can be used as a solution to help stop foreclosure.
In addition, there are alternative foreclosure solutions including Mortgage Modification.
While facing foreclosure is a frightening prospect, it is not the end of the line.
Do not sit idle and do not let the lender get a default foreclosure judgment against you!
If you live in Long Island or Queens, call today to schedule a free, no-obligation, informal consultation either in my office, over the telephone, at your home or at a coffee shop near you. We will discuss your situation in detail and together, come up with a viable strategy on how to stop the foreclosure action filed against you.