Legal Question in Real Estate Law in New York

If I stop paying my mortgage,could they,meaning the mortgage company,freeze my bank account,and how long would that have to take before that happens?

Asked on 5/22/13, 6:15 pm

2 Answers from Attorneys

Arnold Nager Arnold H. Nager, Esquire

They would have to foreclose, auction the house for less than the mortgage amount and then obtain a deficiency judgement. A while, at least.

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Answered on 5/23/13, 4:17 pm
Walter LeVine Walter D. LeVine, Esq.

I agree with Arnold. Foreclosure, a judgment and then execution on your bank account. Probably several months.

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Answered on 5/24/13, 10:39 am

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