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.

Can your lender get a deficiency judgment against you after a foreclosure in New York?

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

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.

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.

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 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.

In New York, you can't redeem your home after a foreclosure sale. But you can redeem before the sale.

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