Pre-foreclosure in New York City
There are just a ton of foreclosures in New York. Yes, still. But you can’t just look at the foreclosure numbers on their own. The important figures are the pre-foreclosures ones. The pre-foreclosures measure missed payments, notices from the banks, etc. According to RealtyTrac.com, the pre-foreclosures numbers surged in 2014 in New York City, with Ulster and Nassau County, holding 2 of the top 5 counties in New York in terms of foreclosures. What can you of if you are pre-foreclosure in New York City?
Pre-Foreclosure in New York City
I’ve previously touched upon the absurdity of the foreclosure process in New York and what happens when you get served with papers by the bank, but let me use this new case that came down in New York to hammer the point. Essentially, One West Bank “serves foreclosure papers” on a homeowner. Homeowner doesn’t respond. One West attempts to file a default judgment against homeowner and then sends to a referee. But they withdraw it. No idea why but they did. So, essentially homeowner wins the battle. Complaint dismissed. And the bank, which apparently has been trying to foreclose since 2009 has to start….again.
The lesson above is that banks (and attorneys like Steven Baum), in addition to sometimes being outright morons and dressing as homeless people at Halloween parties, are still overwhelmed. They get things wrong all the time. You can absolutely fight back, even if you’re doing it without a lawyer.
The absolute worst thing you can do if you’re missing payments is simply not to respond. You’re banking on the fact that the bank attorneys did everything correctly and that you have no defenses. You’re banking on the fact that the bank has the correct documents necessary foreclose on your home (pro tip: sometimes they really don’t). Talk to someone. Go to Court. Do anything, but make sure not to ignore the problem. Despite what people say, the above chart shows foreclosures aren’t slowing down in New York City. Make sure you’re aware of your rights and fight back.