Legal Question in Real Estate Law in New York

foreclosure proceedings

I am aproaching the one year mark since I paid my last payment.I am in foreclosure proceedings. I have received the foreclosure papers, and I am now awaiting what happens next. I have a vague idea of what that is. What should I expect to happen next. When do I have to vacate the premises, and how much time will I have? What is the usual proceedure.


Asked on 2/20/04, 7:19 am

3 Answers from Attorneys
Eric Kochel The Law Office of Eric David Kochel, Esq., P.C.

Re: foreclosure proceedings

You should be aware that there are ways to stop the foreclosure. I have been very successfull with clients filing chapter 13 bankruptcy. this will stop the foreclosure proceeding immediately and allow you to pay the arrears over the next 5 years while also getting back on the regular mortgage payments. If you are currently employed or have income, this may be a practical way to save your home. Call my office at (212) 745-1373 if you would like a free consultation. But you should act quickly.

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Answered on 2/21/04, 7:46 pm
Mitchell Drucker Law Office of Mitchell S. Drucker

Re: foreclosure proceedings

Do you have any equity in your house? In other words, could you sell your house for more than what is owed to the bank? If so, you may want to contact a professional and try to sell it.

Also, there may be valid defenses to the action. In addition, there may be other ways to save the house, assuming that is what you want to do. Before doing anything, you should consult an attorney.

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Answered on 2/20/04, 8:51 am
richard feldman richard d. feldman

Re: foreclosure proceedings

I have been successful working with banks and/or private investors to do a workout plan. there are other possibilities such as Chapter 13.

Call me at 516 410 4001 or e mail

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Answered on 2/20/04, 9:43 am


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