In many states, home foreclosure is almost an open-and-shut process. The bank claims the homeowner owes money, and it almost immediately lists the property for sale at an auction. But New York is a judicial foreclosure state. So, before banks take adverse action against distressed homeowners, their claims must withstand close judicial scrutiny. Many times, this scrutiny includes foreclosure lawsuit defense, as outlined below. So, if you are in this situation, you have numerous options.
At Roemerman Law, we lay out all your options for you, so you have control over the situation. Then, we diligently pursue a plan of action. This simple and straightforward approach gives you additional peace of mind. Furthermore, we openly communicate with you through the whole process, so you are never in the dark.
Beginning Your Legal Claim
Typically, we promptly file requests for Temporary Restraining Orders in defective foreclosure lawsuits. Once the judge issues a TRO, the bank must immediately stop all adverse proceedings.
The TRO gives us the breathing room we need to plan an effective defense, and a TRO also provides immediate relief from foreclosure. But there is more. TROs change the nature of the proceeding. Before, the bank had the initiative. After a judge grants this order, the homeowner calls the shots.
In a few cases, the mortgage debt is entirely legitimate and the bank has carefully obeyed all procedural requirements. But these cases are extremely rare. Almost all situations involve mortgage fraud or another foreclosure defense. Some examples include:
- Improper Foundation: Generally, the bank which pursues foreclosure is not the same bank that originally made the loan. Generally, the home loan has changed hands multiple times and in multiple formats. Banks cannot use these transactions as an excuse for incorrect paperwork.
- Procedural Defects: It is not enough to have the correct paperwork in place, such as a deed of trust and assignment. The bank must also file these documents in the right order and in the right place. Once procedural errors occur, it is impossible to go back in time and correct them.
- Statute of Limitations: Many banks are notorious sloppy, and many homeowners have gone through pre-foreclosure before. If the bank did not officially reinstate the loan after the homeowner remedied the prior delinquency, New York law may prevent any other foreclosure attempts.
At Roemerman Law, we know how to leverage these defenses and obtain a positive result. That outcome could be a favorable pretrial settlement or a successful trial.
If the bank wants to take your house, you have options. For a free consultation with an experienced New York foreclosure attorney, contact Roemerman Law, P.C. Our main office is conveniently located in midtown Manhattan.