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Mortgage foreclosures are lawsuits brought by lenders to compel a court to sell property whose underlying mortgage is in default. The court appoints a referee to sell the property at auction, distribute the proceeds, and the surplus money after satisfying the mortgage, if any.
Under New York State laws, mortgage foreclosure is a complex process where the Plaintiff bank must demonstrate certain requirements before allowing to proceed with the foreclosure. If a plaintiff cannot demonstrate those requirements, a foreclosure proceeding may be delayed or even dismissed to give you time to refinance or sell the property.
While your financial situation may be overwhelming to you, remember that the mortgage papers you signed protect the bank AND protect you. You have certain laws and time periods which work to protect your equity in your property. Don't walk away. A default on a motion for summary judgment may be difficult to vacate. If you feel like things are getting out of hand, let a professional take some of the weight off of your shoulders. Our attorneys have the experience and tools to get you the relief and peace of mind for you and your family. Our attorneys have a wealth of experience and knowledge navigating the complex federal, state, county and local laws to give our clients the greatest flexibility in exercising their rights. We are proud of our successes at the trial and appellate level and we are eager to provide professional and personal service for all of our clients.
There is no charge for an initial phone consultation, call to speak with a lawyer regarding your situation. THE LAW OFFICES OF JAIME LATHROP, P.C. 641 President Street Suite 202 Brooklyn NY 11215