Life is not static. A families financial situations can change related to loss of employment, downsizing employment, financial tragedies, health issues, marital problems and many other issues. When a family falls behind on their mortgage payments it is important they do not ignore the issue. Immediate action should be taken to deal with the potential of a foreclosure and the loss the family’s most valuable asset, their home.
Lenders Action
A financial institution can take legal action when a homeowner falls 2 or 3 months behind in making their mortgage payments. The homeowner will usually receive initially a 90 day notice that their home is going into foreclosure. Thereafter, they will receive a Summons and Complaint from the attorneys from the financial institution outlining the reasons for the foreclosure and they are seeking to remove families ownership of their home and take back the home.
The Foreclosure Process
The foreclosure process in the State of New York is not something a homeowner can navigate or deal with on their own. The best way to deal with the foreclosure process is an early intervention on behalf of the homeowner by a dedicated, experienced foreclosure law firm.
The law office of Schlissel DeCorpo LLP has been representing homeowners for more than 30 years and has helped hundreds of homeowners keep their homes.
The law office of Schlissel DeCorpo have been defending homeowners regarding mortgage issues for more than three decades. They can be reached at 516-561-6645, 718-350-2802, 631-319-8262 and 914-998-0080 or emailed at Elliot@sdnylaw.com.
