Summary of New York's Foreclosure Laws

If you are facing foreclosure in New York, it’s important to understand some of the basics, including:

  • the most common type of foreclosure procedure (judicial v. nonjudicial) used in New York
  • how much time you have to respond
  • your rights and protections in the process, and
  • what happens afterwards (for example, whether you’ll be liable for a deficiency judgment).

Below we have outlined some of the most important features of New York foreclosure law. Keep in mind that this is just a summary; we’ve included statute citations so you can get more details from the laws themselves. And be sure to check out Nolo’s extensive Foreclosure section, where you can find information about all aspects of foreclosure, definitions of foreclosure terms (like redemption and reinstatement), and options to avoid foreclosure.

Topic

State Rule

Most common type of foreclosure process

Judicial

Notice of the foreclosure

Foreclosing party must provide notice to borrower at least 90 days before filing foreclosure complaint. Complaint must be accompanied by notice regarding legal options and explanation of foreclosure procedure. Borrowers have 20 to 30 days to respond to complaint, depending on whether they are served personally or by another method. Notice of sale must be published in a newspaper and publicly posted, in some cases.

Reinstatement of loan before sale

Available any time before final foreclosure judgment (foreclosure will be dismissed) and any time after judgment, but before sale (foreclosure will be stayed).

Redemption after sale

Not available

Special protections for foreclosures involving high-cost mortgages

If lender violated provisions that apply to high-cost loans, borrower may use this as a defense against foreclosure. N.Y. Banking Law §â

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