NYC Premier Real Estate » Understanding the Foreclosure Process in New York City http://premierrealestatenyc.com Getting NY Homeowners Out Of Foreclosure and Out of Distress Fri, 31 Mar 2017 19:33:44 +0000 en-US hourly 1 https://wordpress.org/?v=3.9.40 Understanding the Foreclosure Process in New York City http://premierrealestatenyc.com/understanding-the-foreclosure-process-in-new-york-city/ http://premierrealestatenyc.com/understanding-the-foreclosure-process-in-new-york-city/#respond Mon, 09 Sep 2013 22:15:01 +0000 http://premierrealestatenyc.com/?p=259 If you, or someone you know, has recently been served with a summons for foreclosure, you should contact a financial expert, or real estate professional immediately.

What does it mean that your bank is coming after your home to redeem its collateral? Since you have been unable to make your monthly payments the bank is losing money. As a result they are going to take legal action in order to obtain your home in the hopes of either turning a profit, or at the least, cut their losses.

Foreclosure litigation differs from most other types of litigation. A foreclosure is made up of seven unique steps. This process can last between 18 and 24 months to finish; however if you ignore the summons, and disregard the bank’s notices, than you could be losing time and valuable options that are time sensitive.

If you are a number of months behind on your mortgage and you have already made the attempt to modify your loan, you may find yourself limited to only a few remaining options. Premier Real Estate NYC is here to encourage you to investigate your options. You are entitled to a free consultation with one of our real estate experts. You will find answers to all of your real estate and legal questions here.

In addition to your home mortgage you may also have fallen behind on other bills including, credit cards, medical and/or utility bills, car payments, and more. Time is not on your side; you should seek expert advice and find out how you can remedy your financial woes.

Contact Premier Real Estate NYC

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