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IS YOUR LENDER COMPLIANT WITH THE NEW YORK STATUTE OF LIMITATIONS? In New York an action to foreclose a mortgage may be brought to recover unpaid sums which were due within the six-year period preceding the commencement of the action.  The notice of acceleration must be “clear and unequivocal.” Find out more at https://www.wrongfullyforeclosed.com/ 

The #CARES Act put a moratorium on #foreclosing on federally-backed #mortgages, It doesn’t touch anything else. It doesn’t affect property owners associations; it doesn’t affect taxes. In short, #foreclosures for HOA fees and taxes can continue. https://www.wrongfullyforeclosed.com/ 

#NEW YORK #FORECLOSURE ASSISTANCE UPDATEAG Letitia James announced the Homeowner Protection Program, a $10 million grant part of a $20 million allocation. Over 170,000 homeowners applied for forbearance in the 1st quarter of 2020 compared to 7,000 in the last quarter of 2019.

Prior to the #pandemic in March, the number of #mortgages in #forbearance was fewer than 100,000. Currently, there are roughly 4.5 million #mortgages in #forbearance.  If you are facing #foreclosure and need help call 888-600-6030 or visit https://www.wrongfullyforeclosed.com/ 

Federal Housing Administration mortgages — the affordable path to homeownership — now have the highest #delinquency rate in 4 decades.  The share of late #FHA loans rose to 16% in the second quarter. #Conventional loans delinquent were 6.7%. need help https://www.wrongfullyforeclosed.com/

HOW CAN A #NEW YORK #FORECLOSURE RESTART AFTER STATUTE OF LIMITATIONS?if a timely commenced #foreclosure action is terminated, a lender may be able to rely on New York Civil Practice Law and Rule 205(a), known as the New York savings clause, to commence a new action, even if the #statute of limitations has since expired.…

The Protecting Tenants in #Foreclosure Act covers approximately 11 million of the 44 million rental properties in the nation. #Mortgages backed by #Fannie and #Freddie will continue to be #foreclosed. for more information visit https://www.wrongfullyforeclosed.com/

#NYC 2020 #Foreclosure Rates Hit 5 Year Highs#Foreclosure rates increased 114% since 2014 highs. Queens has the most doubling its 2014 rate, Brooklyn has 187% t increase. Staten Island 313%  higher. Don’t wait, get help today 888-600-6030 or visit https://www.wrongfullyforeclosed.com/  

#FHA to Extend #Foreclosure & Eviction BanThe ban only covers the roughly 8.1 million homeowners with single-family #mortgages insured by the #FHA, the HUD agency that backs low- and moderate-income borrowers’ loans, not those backed by #Fannie Mae and #Freddie Mac.