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.
Empower Yourself: DIY Products by Nolo
Sidestep the lawyers with do-it-yourself books, documents, and software.
Nolo offers hundreds of consumer-friendly, do-it-yourself legal products for all types of legal situations. Browse our full product list.
More Legal Issues
Click below to view more legal issues. Our extensive collection of legal topics ranges across different areas of practice.
Corporations Car Accidents Criminal Law Debt Management Disability Law Divorce & Family Law
Learn About Our Team
Our editors have over 100 years of combined experience practicing law. These professionals have worked in a wide range of legal areas, from estate planning to criminal law to business formation and beyond. They’re experts at explaining complicated legal issues in easy-to-understand terms.
Learn more about the team that manages Nolo’s articles, books, and DIY tools.
Need a Lawyer? We Can Help
Find an experienced, local attorney in three easy steps. Our process is designed for ease and simplicity.
Describe Your Case
Briefly tell us about your case, and provide your contact information.
Get Connected
We find and instantly list attorneys that can best handle your case.
Hire an Attorney
Choose the attorneys you would like to work with.
Nolo Legal Dictionary
At Nolo, we prioritize quality and transparency because we know how important reliable legal information is to our readers. Our information is meticulously researched, regularly updated, and written in plain English by our experienced writers and editors. Learn more about our editorial standards.
Are You an Attorney?
Grow your firm with Martindale-Nolo, the largest legal network, and learn more about our attorney lead-generation and marketing services.
Integrity and Expertise You Can Rely On
At Nolo, we prioritize quality and transparency because we know how important reliable legal information is to our readers. Our information is meticulously researched, regularly updated, and written in plain English by our experienced writers and editors. Learn more about our editorial standards.
Copyright ©2025 MH Sub I, LLC dba Nolo ® Self-help services may not be permitted in all states. The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site. The attorney listings on this site are paid attorney advertising. In some states, the information on this website may be considered a lawyer referral service. Please reference the Terms of Use and the Supplemental Terms for specific information related to your state. Your use of this website constitutes acceptance of the Terms of Use, Supplemental Terms, Privacy Policy, Cookie Policy, and Consumer Health Data Notice.
Your Privacy Choices