Stopping Foreclosures From Moving Forward
During these turbulent economic times, many families find that they are falling behind on their mortgages. When foreclosure is threatened, it is often thought that there is nothing that can be done to stop the process from moving forward. This is incorrect! A proper foreclosure defense can tie up your case in the courts for long periods of time. Our track record of successfully convincing banks to accept loan modifications and withdraw foreclosure proceedings may save your home.
There are several alternatives to dealing with foreclosures. It is important that you contact an attorney at the earliest possible stage when you fall behind in your mortgage to plan what type of measures you will take to deal with a potential foreclosure.
Notice of Foreclosure
If you receive a letter indicating your financial institution may be starting a foreclosure-proceeding against you, it is extremely important that you hire competent foreclosure defense lawyers as soon as possible. If you are served with a Summons and Complaint in foreclosure you have 20 days to respond to the Summons and Complaint if you are served personally. If you are served through an alternate means other than through the Summons and Complaint being personally placed in your hands, you have 30 days to respond to the Summons and Complaint in foreclosure.
Calling the attorney on the phone who served the foreclosure-papers against you is not a valid response. You must file a Formal Answer responding to each and every allegation in the complaint against you. If you have defenses, you must assert these defenses. The Verified Answer to the Summons and Complaint in foreclosure must be acknowledged before a Notary Public and served on opposing counsel and the Court.
How Long Can I Stay in My Home After I am Served with the Summons and Complaint in Foreclosure?
The foreclosure-process can be a long and tedious process for the lender if you retain experienced foreclosure defense attorneys. The legal system does not move very quickly. Due to the current high volume of foreclosure proceedings being brought in the Metropolitan New York area, foreclosure proceedings can take one to three years, depending on the circumstances. The foreclosure-process moves much slower if you immediately retain an attorney to represent you and defend you from the foreclosure law suit.
Before actually starting a foreclosure law suit against you, most lenders will send you a warning notice that a foreclosure-proceeding is going to be commenced. The foreclosure-process is a complicated one. The defenses to foreclosure proceedings are of a technical nature. There are defenses involved with issues concerning predatory lending practices.
Counter-suing the Bank for Financial Restitution
Besides the numerous defenses that can be submitted in an answer to a foreclosure proceeding, it is also possible to counter-sue the bank. The counterclaims against the bank can relate to ”truth in lending” violations, predatory lending practices, fraud and other civil lawsuits. By bringing a countersuit against the bank within the confines of the foreclosure proceedings, you not only tie up the proceeding, but you give yourself a sword to strike back at the financial institution and create liability for the institution.
Our office has numerous cases pending before the courts in the metropolitan New York area where we have alleged defenses and counter-sued financial institutions for their inappropriate practices. Contact us if you have any questions regarding the bank’s behavior in handling your mortgage modification.
Contact An Experienced New York Foreclosures Attorney
Contact us for a free consultation to discuss your case and our qualifications to represent you. Feel free to call toll free any time, day or night, at (914) LOAN-MOD.