Bronx Foreclosure Attorney
If you’ve fallen behind on your house payments and your lender has sent you an intent to foreclose on your property, you must act quickly! You still have options available to help you stay in your house.
If you do not respond in writing to the foreclosure action within 20 or 30 days, you are automatically in default.
This removes your right to force the foreclosing bank to prove their case. As long as you act quickly, you will retain your right to fight to keep your house. The harder you fight in the foreclosure action, the more likely your are to finally get a loan modification in the foreclosure process.
Foreclosure Basics
In New York, foreclosures are judicial proceedings, which means they take place in court with a judge presiding. Because your lender has to prove the claim in court, it can be more difficult for them to be granted the foreclosure. Your lender has to file a lawsuit to foreclose, so you will receive a summons and complaint have a chance to respond. It is extremely important that you provide a written response within 20 or 30 days of receipt of action; otherwise, you lose your right to make it as difficult as possible for the lender to foreclose. The harder it is, the longer it takes.
How to Respond to a Foreclosure Summons
There are a couple of ways you can handle a foreclosure action. You could request a loan modification from your lender, and if they agree, you could get your monthly payments or your interest rate reduced. But modification is not the only option: before you request modified mortgage terms, you should consider bringing a defense against the foreclosure. In recent years, homeowners have successfully defended against foreclosure proceedings, due to the recent predatory lending activities of many mortgage companies. A strong and lengthy foreclosure defense could allow you to walk away with some equity in your house and some cash in your pocket.
Defenses against a Foreclosure
Defending against the foreclosure is basically where you force the lender to prove their case and obey the law and follow the rules. Some common defenses include:
1. You were improperly served the summons.
2. The lender served a summons to an active member of the military. Active service members have certain protections in place to keep these incident from occurring while they are serving the country.
3. The lender did not complete or serve the 90-day pre-foreclosure notice correctly.
4. Your lender has no right to sue because your loan was predatory, or the ownership of the debt cannot be proven.
5. The lender didnt follow the rules of court procedure.
There are many defenses to a foreclosure action. Call me to find out which might apply to you.
Contact a Foreclosure Defense Attorney
A foreclosure can be a terrifying situation; if you are facing the possibility of you and your loved ones becoming homeless, you should fight for your home. Luckily, you do not need to do it alone. As one of the few bankruptcy attorneys who can also provide foreclosure defense services to his clients, Thomas M. Denaro, Esq. has considerable knowledge of the mortgage industry needed to help you fight to keep your home. Moreover, we can offer you a flat fee on your case and a reasonable payment plan. For a free initial telephone consultation, call us today at 718-863-6000.