New York Foreclosure Law Center

Foreclosures in New York are judicial, which means the lender must file a foreclosure lawsuit against you in court. If the judge grants the foreclosure, you might be on the hook for the "deficiency" (the difference between the sale proceeds and the remaining balance on your loan) in certain circumstances. If you're facing foreclosure in New York, below you can learn about key features of foreclosure law in the state and find out if you might be liable for a deficiency.

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Foreclosure Laws in New York

Deficiency Judgment Laws in New York

Can your lender get a deficiency judgment against you after a foreclosure in New York?
New York Foreclosure Laws and Procedures

Learn how a New York foreclosure works, including preforeclosure steps, foreclosure procedures, and homeowners’ rights under both state and federal laws.
New York HOA and COA Foreclosures

If you fail to pay your HOA or COA assessments in New York, the association can get a lien on your property and might foreclose on your home.
Foreclosure Protections in New York for Reverse Mortgage Borrowers

New York law requires the bank to send a 90-day notice to reverse mortgage borrowers before starting a foreclosure, as well as offer the opportunity to participate in a settlement conference.
New York Passes Foreclosure Statute-of-Limitations Law

The Foreclosure Abuse Prevention Act significantly restricts when the statute of limitations for a foreclosure may be reset or extended in New York.
New York's Amended Foreclosure Laws

New York law now requires the lender to assert that it is the loan owner when starting a foreclosure and gives homeowners the chance to raise certain defenses to protect their homes.
New York's COVID Mortgage-Relief Program

Learn about New York’s COVID mortgage-relief program. You might be eligible for up to $50,000 to pay your home loan and other housing-related costs.

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Common Questions About New York Foreclosure

If I Lose My Home to Foreclosure in New York, Can I Get It Back?

In New York, you can't redeem (repurchase) your home after a foreclosure sale—but you can redeem before the sale.

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