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Help for Homeowners
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- Foreclosure Assistance - Help for Homeowners Facing Foreclosure.

• Find a Housing Counselor.
• If You Fall Behind.
• Know Your Options.
• Know Your Rights in Foreclosure.
• Settlement Conferences
  
  - An Occupant's Rights in Foreclosure.
• Rent-To-Own and Installment Contracts.
• Renter's Insurance
  
  - Basic Coverage and Adding Coverage.
• Force-Placed Insurance.
• Cancellations and Nonrenewals.
• Choosing a Policy.
• Just How Much Insurance Do You Need?
• Problems Obtaining Insurance.
• Flood Insurance.
• Understanding What Affects the Cost.
• Shopping for Insurance.
• Managing and Mitigating Losses
  
  Residential Foreclosure Actions Consumer Bill of Rights
  
  This Residential Foreclosure Actions Consumer Bill of Rights offers guidance to homeowners dealing with foreclosure in New York. A foreclosure is a claim, and property owners must seek assistance from a lawyer or housing counselor in checking out possible legal defenses to the suit. Homeowners need to likewise understand their general rights and responsibilities highlighted below.
  
  Throughout the Foreclosure Process
  
  You have the right to remain in your home and the duty to maintain your residential or commercial property unless and till a court orders you to leave. If you desert your home, the complainant (bank or mortgage servicer) may have the ability to foreclose on your residential or commercial property through an expedited procedure in court. To avoid this result, remain in your home and thoroughly review and react to files you receive from the plaintiff or the court in your foreclosure case. A failure to respond or appear in court when needed to do so might make it simpler for the plaintiff to show that your residential or commercial property is uninhabited and abandoned, which might put you at risk of an accelerated foreclosure.
  
  You have a right to be represented by a lawyer and might be eligible totally free legal or housing therapy services.
  
  You have a right to be free from harassment or foreclosure scams. Strongly think about seeking advice from a lawyer or housing therapist, if readily available, before signing any documents. If you are the target of harassment or scams, contact DFS by calling our Consumer Hotline at (800) 342-3736.
  
  You have a right to avoid foreclosure if you repay your loan in complete at any time prior to the sale of your home, or if you work out a settlement with the complainant.
  
  Before a Foreclosure Action Begins in Court
  
  You have a right to be notified a minimum of 90 days before a foreclosure suit is submitted informing you that you remain in default and at risk of foreclosure. You deserve to explore "loss mitigation" options that may permit you to keep your home and avoid litigation. The bank or mortgage servicer is needed to help you understand your loss mitigation choices. If you have actually submitted a completed loss mitigation application, your bank or mortgage servicer need to finish its evaluation of your application before proceeding with the foreclosure suit.
  
  RPAPL § 1303 has been changed to require plaintiffs in foreclosure actions to provide a more particular and practical notice to debtors concerning their rights and commitments during the foreclosure process. Specifically, the notification must suggest that property owners can stay in their homes till a foreclosure sale happens and the obligation to preserve their residential or commercial property and pay applicable taxes until such time. This section is intended to help prevent residential or commercial properties from becoming vacant in the very first location. Read the specific language required by RPAPL § 1303.
  
  RPAPL § 1304 requires mortgage financial institutions to provide borrowers a minimum of ninety days' notice before beginning a foreclosure action. Currently, this Pre-Foreclosure Notice (" PFN") should include the following language: "Since ___, your mortgage is ___ days in default ... You can treat this default by making the payment of ___ dollars by ___." Unfortunately, customers often analyzed this arrangement to imply that as long as the customer supplied the mentioned amount by the date defined, the loan would be restored. Quite often, the "remedy date" defined in the PFN is the earliest date on which the lender can begin a foreclosure action, which is 90 days after sending the PFN. When the customer waits a complete 90 days to offer the quantity defined, any missed out on payments and associated interest and charges from the intervening months would be added to the shortage. In such a case, the borrower who submits the amount stated in the PFN would stay in default due to stepping in accruals, regardless of his/her good-faith efforts to attend to the default defined in the PFN.
  
  The new law addresses this problem by amending the first line of the notice to read "As of ____ your mortgage is ____ days and ___ dollars in default." Similarly, it includes language to RPAPL § 1304 which highlights the customer's continuous rights and duties throughout the foreclosure process. Read the new pre-foreclosure notification language.
  
  Once a Foreclosure Action Begins
  
  You have the right to get a copy of the legal papers in the foreclosure lawsuit when it starts. This is known as "service" of the Summons and Complaint. You must react to the Summons and Complaint with an "Answer" within 20 days after you have been personally served, and within one month if served on you by other methods. The Answer is your chance to mention your defenses.
  
  You must seek advice from an attorney or housing counselor for assistance in this .
  
  You have a commitment to appear at all scheduled court looks. If you stop working to appear, you run the risk of losing crucial rights, which might lead to the loss of the case and your home.
  
  You have a right to demand court approval to proceed without paying court expenses.
  
  At a Mandatory Settlement Conference
  
  You have a right to an explanation of the nature of the foreclosure action against you.
  
  Both celebrations have a commitment to bring all essential files to the settlement conference. For a general list of needed files, check out the Mandatory Settlement Conference info page.
  
  Both celebrations need to work out in "great faith", which suggests truthfully and fairly. If you fail to do so, you may lose the chance to pursue a court-supervised settlement. If the bank or mortgage servicer stops working to do so, the court might enforce similarly significant charges. Negotiating in excellent faith does not need either celebration to settle.
  
  If you formerly failed to submit an Answer, you will be provided an additional one month to do so at the settlement conference.
  
  After Settlement Agreement or Fully Executed Loss Mitigation Agreement
  
  Within 90 days of completing a settlement, the lis pendens designation on your residential or commercial property, which cautions people that title to your residential or commercial property remains in conflict, should be raised.
  
  You might be accountable for extra taxes if you reach a settlement that includes debt forgiveness. Consult from a tax expert about any resulting tax effects.
  
  After Judgment of Foreclosure and Sale
  
  Upon a judgment of foreclosure and sale, the brand-new owner can look for to evict you from the residential or commercial property.
  
  If the home is resold for more than what you owe, you have a right to file an application with the court for the surplus funds, subject to certain deadlines. It is necessary to seek aid from a legal service company if you believe you are owed a surplus.
  
  If the home is sold for less than what you owe, the lending institution may submit an application for a judgment versus you for the difference, understood as a shortage judgment. You may deserve to contest the amount of any deficiency judgment, including interest and penalties.
  
  Get Help! Contact a Not-for-Profit Housing Counselor
  
  Housing therapists that deal with foreclosure-related problems can provide you guidance on your alternatives and resources at little or no charge. They may also have the ability to work out with your lender free of charge and help you find complimentary legal services in your area.
  
  Housing therapy resources for New Yorkers include:
  
  - New York's Homeowner Protection Program (HOPP), which links with housing therapists and legal services at no charge. Call the HOPP hotline at (855) 466-3456 or go to homeownerhelpny.com.
• You can find a list of approved non-profit housing counselors by county here, on the DFS site.
• 24-Hour help is offered toll-free on the HOPE NOW hotline at 888-995-HOPE (888-995-4673). HOPE NOW is an alliance of HUD authorized counseling representatives, servicers, and financiers that offer complimentary help.
• If you reside in New York City, you can likewise call 311.
  
  If you remain in a foreclosure lawsuit, you should speak with an attorney.
  
  Seek Legal Assistance
  
  Contact a legal representative and review your mortgage documents. Make certain your loan is not in violation of any laws. If you do not have an attorney, the New York State Bar Association may be able to refer you to an appropriate attorney for your situation.
  
  If you can not pay for a personal lawyer, resources for totally free or inexpensive legal support consist of:
  
  - New York's Homeowner Protection Program (HOPP), which gets in touch with housing therapists and legal services at no expense. Call the HOPP hotline at (855) 466-3456 or go to homeownerhelpny.com.
• The New York City State Bar Association's Lawyer Referral and Information Service.
• The Legal Service Corporation site. LawHelp.org, an online directory of complimentary legal service providers in New York.