A Primer on New York Foreclosure & Collections: The Impact of the Current Economy
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Learn the art of negotiation and litigation to address the frequent issues that arise, pitfalls to avoid, and common defenses to a foreclosure action in New York.In nearly a decade, the 2007 sub-prime mortgage crisis continues to result in millions of home foreclosures throughout the United States. One out of every 1217 homes in New York are in some stage of foreclosure. Banks have thousands of non-performing loans, which are being referred to law firms to commence the foreclosure action. This topic will help the persons responsible for commencing or defending a foreclosure action understand the entire foreclosure process. This topic will also identify the affirmative defenses to the foreclosure action. This topic will discuss the participation in the mandatory settlement conferences in New York as well as the requirements that both parties are bound to in the negotiation process. With the strong understanding of the settlement conference process and the foreclosure process, as a whole, persons will learn the art of negotiation and litigation to address the frequent issues that arise, pitfalls to avoid, and common defenses to a foreclosure action in New York. The questions raised as a result of collections after death will also be discussed. Persons who represent family, heirs, executors, or administrators will benefit from this discussion on how to protect family members from being harassed by collection agencies after a loved one dies. Depending on the size of the estate and the type of debt, family members may not be required to pay the debt.
AuthorsWendy Marie Weathers, Esq., Cabanillas & Associates, P.C.
NY Foreclosure Procedural Process
- Pre-Foreclosure Notice Requirements
- Foreclosure Filing Requirements
- Foreclosure Action Commenced
- Foreclosure Sale Notice and Service Requirements
Mandatory Foreclosure Settlement Conference
- Negotiate in Good Faith
- Case Law
Common Defenses to Foreclosure Process
- Standing - Holder and Owner of Note and Mortgage
- Lack of Personal Jurisdiction
- Statute of Limitations
- Failure to Comply With RPAPL §1302
- Failure to Comply With Contractual Notice Requirement
- Failure to Comply With RPAPL §1303, 1304 and 1306
- Failure to Comply With NY's Banking Law
- Plaintiff Improperly Commenced Action
- Plaintiff Commenced Action in Violation of HAMP Guidelines
Collections After Death
- Will or No Will?
- What Is the Debt?
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