Living in Brooklyn, you may have been front and center to the housing crisis that began in 2005 to 2006. You may have struggled to pay your bills or watched as loved ones lost their homes. In early 2016, a report about the Brooklyn Supreme Court showed how pertinent foreclosure information is for those in Brooklyn today, even as the recovery continues.
New York is one of several states that uses the "judicial foreclosure" system, which means that all foreclosures must be handled through a lawsuit.
The number one question our clients ask after they have received a Pre-Foreclosure Notice or a foreclosure summons is, "When will I lose my house?" Fortunately, the foreclosure process is long and drawn out, giving homeowners plenty of time to explore their options. Just because you are behind on your payments does not necessarily mean you will lose your house. After you have received a notice from your lender, contact our Long Island foreclosure lawyers for help.
At long last, the much dreaded knock on your front door, many times at a somewhat odd hour of the day or perhaps even on your day of rest, from an unknown individual seeking only to greet you and introduce you to a lawsuit in Supreme Court. Your name will be prominently and most publicly proclaimed as a defendant wherein your lender is seeking redress for injuries and damages it sustained and now wishes to foreclose upon your home or business property.