When you don't pay your mortgage, the bank or lender can start a "foreclosure." This means the bank tries to sell your home to get back the money you owe. If you're facing foreclosure, this section will help you know what's going on, what you can do, and where to find help.

What’s going on

If you fail to make mortgage payments on time, your lender will send a notice, explaining the missed payments and the amount owed. This is a "Notice of Default."

If you don't pay, the lender can start a legal process by filing a lawsuit against you. This is the beginning of foreclosure. 

In court, a judge decides if the lender can take your home. This can take several months. Each foreclosure case is unique, and the timeline and specific procedures vary

What you can do

If you get a Notice of Default, take action now. Begin by exploring LawHelpNY’s available foreclosure resources. Learn more about:

The New York State Department of Financial Services (DFS) also offers valuable information on foreclosure prevention, your rights as a homeowner, and guidance on contacting your lender. 

Where to find help

Legal aid organizations and housing counseling agencies can provide assistance in understanding your options and potential alternatives to foreclosure:

Remember: Stay proactive, seek professional advice, and learn your rights as a homeowner in New York to make informed decisions throughout the foreclosure proceedings.

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Last Reviewed: February 29, 2024