Long Island, Suffolk and Nassau Foreclosure Defense Lawyers
All about Foreclosure
What is foreclosure? Foreclosure is a legal action taken by a lender against a homeowner, in an effort to take ownership of the property in order to satisfy a debt. When a homeowner defaults on his or her mortgage loan, the lender may actually take ownership of the property or may have the property sold as a means of paying off the debt. When foreclosure proceedings are complete, the homeowner would have lost all rights to the property.
Because foreclosure is actually a complex court process, it is important to at least consult an attorney in order to find out your rights and options in this regard. At Jacoby and Jacoby, our New York foreclosure defense attorneys are highly experienced in defending homeowners who are at risk of losing their homes due to foreclosure. We have over 50 years of combined legal experience and represent clients throughout all of Long Island, Suffolk and Nassau, New York. We welcome you to contact a Long Island foreclosure lawyer at our firm for a free consultation.
Foreclosure Proceedings in New York
Prior to actually initiating the foreclosure process, a lender may send a warning to the homeowner that foreclosure may be imminent. In New York, however, a lender does not need to warn the owner. To begin the foreclosure process, the lender will actually file a lawsuit against the borrower. The borrower will be served a notice of foreclosure and will be required to appear in court to respond.
At the court appearance, a borrower will be best represented by an experienced attorney. The court may rule in favor of the lender and decide that the property can be foreclosed on – and a foreclosure sale will be scheduled. With an attorney’s help, a borrower can prove that the property should not be foreclosed on, or that the lender may actually have violated the mortgage contract in some way. A foreclosure defense attorney can also help a borrower negotiate with a lender and avoid foreclosure court proceedings in the first place. However, this will vary on a case to case basis and thus it is important to discuss your particular situation with an experienced lawyer to see what you can do.
It is important to note that the entire foreclosure process in New York may take up to 15 months to complete. This is generally longer than most states.
Consult a Long Island Foreclosure Attorney
An attorney at our firm can review your particular situation in order to determine what your potential alternatives to foreclosure may be and what we can do to protect your interests. It is important to remember that all is not lost even if you have already been served a notice of foreclosure. An attorney can still step in to fight foreclosure.
Contact Jacoby and Jacoby today!