Legal Question in Real Estate Law in New York

foreclosure

My house has been in forclosure for months. My mother and I are co-owners. I have moved out, and my mother wants to stay in the house until she has to move. Once the foreclosure is final, will my bank account and other assets be attached, or will they just accept the house as ''payment in full''?


Asked on 3/26/09, 10:49 pm

2 Answers from Attorneys
Savyon Grant Law Office of Savy Grant

Re: foreclosure

Did you consider doing a shortsale? Call me I will explain and we may be able to delay process. 201\646\9600

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Answered on 3/27/09, 7:16 am
Michael Markowitz Michael A. Markowitz, PC

Re: foreclosure

It depends on the bank and how much is owed. The bank would have the option to seek enforcement of the judgment for the remainder amount owed.

Mike.

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Answered on 3/27/09, 7:50 am


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