Foreclosure to Resume as Courts Reopen

Courts have begun the process of reopening in the state of New York. 

An announcement featured on NYCourts.gov stated: “In an important step in expanded operations, the County Clerks of New York City announced that they will resume the queuing, docketing and filing of “Clerk of the County” documents received by their offices since the commencement of the COVID-19 pandemic in mid-March.”  Several additional counties have quietly begun resuming court activities, though many remain closed or restricted to visitors.

Unfortunately, as numerous New York homeowners are discovering, now that courts are moving forward again, lenders still want you to make an effort to bring your mortgage current.  If you cannot, the legal process of foreclosure may begin.  In March 2020, Gov. Andre Cuomo modified banking law to require banks to grant a “forbearance” – a reduction or postponement of payment collection – through April 20, 2020 to those who suffered financial hardship as a result of the COVID-19 pandemic.  That forbearance was to have been granted, if you asked for it, for 90 days from March 20, (through June 20).   If you are a homeowner in default on your mortgage due to financial difficulties imposed by the COVID-19 pandemic, there is still information you should know.

Do you know how your lender or servicer expects to proceed after the forbearance period expires?  There were restrictions on which mortgages were required to be treated in that way.  Was your mortgage covered in Gov. Andre Cuomo’s order?  If you needed to skip payments, have you communicated with your lender?  

It seemed like the entire country breathed a sigh of relief in the mid-March foreclosure relief announcements amidst the national lock-down confusion, but today, as the economy attempts to reopen and the courts begin to recommence, it is important to know where you stand and what rights you have. 

If you are facing foreclosure, or have received a notice of intent to foreclose, your biggest asset may be at risk. 

Get the representation you need.  Find out where you stand, with no obligation by visiting WrongfullyForeclosed.com or by calling (888) 800-6030 and find out whether an attorney could be the answer to your foreclosure risk.

The above article is intended for informational purposes only and is not to be construed as legal advice.