What Is Foreclosure?
If you fall behind on your mortgage payments in NYC, the bank will send you a notice of missed payment and likely assess a late fee. This notice can be upsetting and you could start to worry about foreclosure. NYC foreclosure lawyer, Michelle Labayen, can start assessing your case and assisting with foreclosure defense at this early stage.
When an outstanding payment isn’t remedied or you miss installments for multiple months, the bank can file an NYC foreclosure action against you. If you receive a notice of foreclosure, it is time to contact an NYC lawyer.
Through foreclosure in an NYC court, the bank or other lender asks the court to take possession of your real property and sell it at an auction. The proceeds from the auction are used to repay the bank, including payment of any interest and late fees.
With the assistance of a New York lawyer, you could:
- Delay the foreclosure process;
- Negotiate your mortgage and payment schedule with the bank;
- Reorganize your mortgage;
- Explore the option of a short sale;
- Find a way to avoid the foreclosure auction; and
- Access valuable information on lowering your mortgage payments and keeping your property.
What Is Defense to Foreclosure?
Going through a foreclosure can be chaotic and unpleasant. When families in NYC lose their home or commercial property, it impacts other aspects of your finance, regular expenses, and lifestyle. A New York lawyer can make the foreclosure process more manageable. Foreclosure lawyer Michelle Labayen can help you fight the foreclosure.
Foreclosure is a formal court process. The bank is required to file a motion for foreclosure in an NYC court, and you have the opportunity to respond. This response is the beginning of your defense to foreclosure.
There are several ways to defend a foreclosure action in NYC. The best solution for you will depend on the facts of your case, willingness of your bank to negotiate, and your lawyer’s strategy for fighting foreclosure. Lawyer Michelle Labayen’s goal is to help you keep your home, through any means necessary.
Attorney Michelle Labayen learns the specifics of your case through a free consultation before advising on foreclosure defense. Our office understands your goals and desired outcome from a foreclosure case and assesses the likely outcome in the NYC court. Then, we can advise on these common defenses to foreclosure:
- The bank used an invalid affidavit process;
- The terms of the mortgage were illegal or unconscionable;
- There was a mistake or error in sending payments or posting mortgage payments;
- The bank failed to follow New York State guidelines on the foreclosure process; or
- There was a violation of the consumer protection laws.
Can You Delay a Foreclosure?
Sometimes defense to foreclosure in NYC doesn’t rely on a procedural or factual argument but seeks to delay or prevent the foreclosure through negotiation or reorganization. NYC Lawyer, Michelle Labayen has eight years of experience with:
- Loan modification;
- Debt reorganization;
- Preventing or delaying eviction;
- Chapter 13 bankruptcy and other bankruptcy proceedings;
- Short sales and avoiding foreclosure auctions.
These options to prevent an immediate foreclosure can provide your family relief and reduce the stress of losing your home.
As we discuss these alternatives to foreclosure, our office stays focused on the core values of our firm: exceptional communication, knowledgeable legal advice, and a personal approach to our representation. It is through these values that we can obtain a better result for our NYC foreclosure clients.
When to Contact an NYC Foreclosure Lawyer?
If you are worried about foreclosure, missed mortgage payments, or eviction – the time to call an NYC lawyer is now. The sooner you start to monitor the actions of your bank and understand the foreclosure process, the easier it is to build a defense to foreclosure.
It is easy to reach our NYC foreclosure practice and speak with lawyer, Michelle Labayen. Plus, our free and confidential consultation for new clients is the perfect opportunity to assess your options for foreclosure defense and hiring a lawyer, without the stress of making a commitment.
To start your foreclosure defense, contact Michelle Labayen today.