Foreclosure Strategies
May 10 2018
The best way to deal with a foreclosure is to take aggressive legal action when the foreclosure laws... [Read More...]
June 1, 2023 By
Financial institutions have in house lawyers. They have outside counsel who bring lawsuits against homeowners that helps the financial institutions maintain their profitability. Foreclosure lawsuits can be fought. New York now has mandatory modification mediation requirement before a foreclosure lawsuit is initiated. This puts pressure on the financial institution to come up with a program which is affordable by the homeowner and stops the foreclosure litigation from moving forward.
There are all types of notice requirements and provisions which must be given to homeowners by financial institutions and the assignees of their mortgages before a foreclosure lawsuit can be started. In cases where the financial institutions do not specifically comply with all the terms and conditions of the statutes and consumer protection laws the homeowners may challenge the foreclosure lawsuit successfully and have it dismissed.
In cases where there are fraudulent actions or misleading documents related to the loan application process or the foreclosure lawsuit, homeowners can fight these lawsuits in court and have the foreclosure lawsuits dismissed. In addition, there are procedural defenses in the New York Civil Practice Law and Rules and the rules of Court a foreclosing financial institution must very specifically comply with or the foreclosure lawsuit can be dismissed.