Experienced, Knowledgeable New City Bankruptcy Lawyer
The Ugell Law Firm, P.C., wants you to be free from the overwhelming worry that results when you are facing the loss of our family's home to bank foreclosure. Call us at 845-521-7841 or contact my office in New City, New York, to arrange a free initial consultation.
The Typical New York Foreclosure Proceeding
- A homeowner experiences a change in circumstances, be it a decrease of income, an increase of expense, loss or illness, expansion of your household size and countless other scenarios. Something happens which causes a homeowner to be unable to pay their monthly primary mortgage obligation. If you contact an experienced attorney at this point, you will have the most options available to you, and the least difficulty finding a reasonable option with the mortgaging bank.
- The mortgage bank will send the homeowner a Notice of Default which can take many forms, but sends a consistent message: You missed a payment.
- An attorney may be too expensive at the moment, so a homeowner will contact the bank and try to explain their situation. Contacting the appropriate representative at your mortgage bank is never a simple task.
- Attempts may be made to submit documents to try to modify the homeowner's 1st mortgage. But the directions and communication with the bank are often ambiguous, estranged, repetitive and confusing. A homeowner often receives a false sense of security, and believes that as long as they are communicating with the bank and trying to fix their situation, that the bank is not moving ever closer to beginning a foreclosure suit.
- After three months, many banks will transfer the case from the mortgage and homeowner area of the bank to the legal team, which will often be a law firm which specializes in bringing foreclosure actions. The bank or their attorneys will send the homeowner notice that the case was transferred to their attorneys to begin foreclosure. This is often received as a Notice to Accelerate or Intent to Foreclose notice, many times prefaced with large bold print reading: YOU ARE IN DANGER OF LOSING YOUR HOME.
- If the homeowners have been making partial payments towards their mortgage, they will notice that soon the bank will no longer cash their checks. Once the bank files the appropriate documents with their district's New York State Supreme Court, they can no longer accept a homeowner's money. The bank does not have to serve the foreclosure documents immediately after they are filed with the Court. The banks are busy, so they may wait, but they will eventually serve the homeowner with a Summons and Verified Complaint. These documents alert the homeowner that the mortgaging bank has begun a Foreclosure Action against the homeowner. The homeowner will have 20-30 days to formally respond do these documents. It is at this point that if the homeowner is serious about keeping their home, they will find an experienced foreclosure defense attorney.
- If you find yourself meeting in one of our conference rooms, an experienced attorney will explain to you that there are literally hundreds of thousands of people experiencing this very same legal proceeding, and that you must file what is called a Verified Answer to protect your rights under the law. We will review your complaint and ensure to protect your rights moving forward. If you do not respond to the complaint, the bank will be able to obtain a Judgment of Foreclosure far more quickly, and you put in jeopardy many of your rights under the law.
- The next step is the bank requesting the intervention of a Supreme Court Judge to hear the case. Once this happens, in the State of New York, your foreclosure case is "stayed" or put on "pause" in order for you, the homeowner, to have the opportunity to review your workout options with a New York State Supreme Court Referee. It is the job of this Referee to allow you to submit information to be reviewed by the bank for work-out options. It is not the job of the Referee to modify your loan or keep you in your home, however while your case is being reviewed before the Supreme Court Referee, you will enjoy the "stay" of foreclosure, provided it is your primary residence which is being foreclosed upon.
- If you do not have an experienced attorney representing you during the review period before the Referee, you could lose an important opportunity to save your home.
- If you have hired The Ugell Law Firm at this point, your financial situation will have already been reviewed. Your attorney will have already begun communication with the bank's representatives and taken great care to prepare a detailed package of information for the bank's review. If the package is not prepared in a very particular way, and if it is not sent to the appropriate locations (often times there is more than one place to deliver the information), and if appropriate representatives from the bank are not consistently checked in with, you risk the bank losing your information, reassigning a new representative to your case that is unfamiliar with your information, forgetting to work on your case because of the sheer quantity of foreclosures their department must work with, and a host of other problems which can leave you in a difficult position.
- The bank is not in the business of purchasing and selling homes, they are in the business of lending and collecting money. If you have an experienced attorney negotiating on your behalf, you will have a significantly higher probability of success. If there is a solution to arrange for you to keep your house, we will search, calculate, negotiate and work to find that solution. At the same time, if your financial situation is such that you are not a strong candidate for modification, we will bring that to your attention early and discuss long-term financial strategies with you so that you will understand what is happening with your home, and you will have a clear plan for your financial future.
- If your term with the New York State Supreme Court Referee does not yield a positive result, that does not mean you have been foreclosed upon. The Referee will simply return the case to the New York State Supreme Court Judge's section of the Court, and we will continue to fight your case.
- An experienced attorney will review every letter of every page received from you mortgage company and their attorneys in search of mistakes, miscalculations, imperfections, malice, unfair circumstances and predatory tactics. We will use every weapon at our disposal to keep you in your home, and fight for your rights as a homeowner. If any bank wants to try to take your home, then they had better be prepared to fight for it, because we are ready to fight for you!
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From my offices in New City, I represent families, consumers and small businesses, because that is who I am, and that is who I care about. I work to protect citizens in the Greater Hudson Valley area. To arrange an initial consultation with an experienced attorney who cares about resolving your legal problem, call 845-521-7841 or contact my office by e-mail today.