Video : What you do if a process service shows up at your house and serves you or other family members with foreclosure lawsuit documents
Foreclosure Timeline
Foreclosures are initiated when homeowners miss their mortgage payments. If a homeowner is between 16 and 30 days behind on their mortgage, a late charge is assessed against them. In these situations the financial institution, or its loan servicing company, will usually notify the homeowner with regard to the late payment issue.
3 Months Behind on Mortgage Payments
When a homeowner is 3 months behind on mortgage payments the financial institution, if they decide to move forward with a foreclosure, must send the homeowner a foreclosure notice a minimum of 90 days before initiating the foreclosure lawsuit. The purpose of the 90 day window is to give the homeowner an opportunity to work out an alternative resolution of the mortgage issue with the financial institution. The 90 day notice must provide how much the homeowners are behind and what they would need to pay to bring the mortgage current. In addition, the 90 day notice must provide the homeowner with names and telephone numbers of a minimum of 5 government approved not-for-profit housing counselling agencies serving the area where the homeowner resides.
90 Days Behind on Mortgage Payments
If the homeowner falls 90 days or more behind on a mortgage, the financial institution or its servicing agency may bring legal action to foreclose on the home. It involves the hiring of an attorney on behalf of the financial institution to file a Summons and Complaint against the homeowner and file a “Lis Pendis” which has a negative impact to the title of the homeowner’s home.
Once the Summons and Complaint has been Served
After the Summons and Complaint has been served on the homeowner and the lender files the proof of service with the court, a Foreclosure Settlement Conference is usually scheduled by the financial institution’s attorneys. During the Foreclosure Settlement Conference a judge or referee meets with the homeowner, the homeowner’s attorney, and the attorneys for the financial institution. The referee or judge looks into whether there is an alternative resolution of the case instead of the house being sold in the foreclosure. The attorney for the homeowner or the homeowner must bring to this Settlement Conference proof of income, a minimum of 2 recent pay stubs and recent tax returns.
Foreclosure Mediation
The Foreclosure Settlement Conference in the court does not relieve the homeowner of the responsibility of providing a written Answer to the Summons and Complaint. The failure of the homeowner to respond to the Summons and Complaint can result in a default which will allow the foreclosure to go through the courts more quickly.
The law firm of Schlissel DeCorpo LLP has been helping families deal with mortgage and foreclosure problems for more than 30 years. We can be reached at 718-350-2802, 516-561-6645 or 631-319-8262 or by e-mail at info@sdnylaw.com.
The Summons and Complaint
A foreclosure lawsuit is initiated by the attorneys for the bank by drafting a Summons and Complaint. It is then filed with the County Clerk’s Office in the County in which the property is located and the attorneys for the bank receive an index number and a filing date which is attached to the front of the Summons. The bank attorneys then hire a process server who serves the Summons and Complaint on the homeowner.
If the homeowner is served personally, the homeowner has twenty (20) days to respond by submitting a written Answer. If the homeowner is served by any other means, the homeowner has thirty (30) days to respond to the Summons and Complaint by submitting a written Answer.
The response to the Summons and Complaint is called an Answer. An Answer can contain admissions or denials. It can also contain defenses and affirmative defenses. As part of the Answer the homeowner can counter sue the bank for various relief including setting the mortgage aside. An experienced foreclosure lawyer will often put 100 to 120 paragraphs in the Answer.
Representing Yourself
There is an expression: “The man who represents himself has a fool for his lawyer”. Do yourself a favor, hire an experienced foreclosure defense lawyer to represent you and your family if you are facing a foreclosure. The attorneys for the banks generally have extensive experience in bringing foreclosure lawsuits. They often bring more than 100 of these cases per month. The bank attorneys know how to process the foreclosures and know the ins and outs of the court system. You need someone on your side at least as good as them!
The law firm of Schlissel DeCorpo LLP has been helping families deal with mortgage and foreclosure problems for more than 30 years. We can be reached at 718-350-2802, 516-561-6645 or 631-319-8262 or by e-mail at info@sdnylaw.com.
