From b4118f87387ab01a32edf99522ae99e9b4a1e971 Mon Sep 17 00:00:00 2001 From: Roberto Leibius Date: Mon, 16 Jun 2025 06:33:28 +0800 Subject: [PATCH] Add Help for Homeowners: Foreclosure Bill Of Rights --- ...omeowners%3A-Foreclosure-Bill-Of-Rights.md | 105 ++++++++++++++++++ 1 file changed, 105 insertions(+) create mode 100644 Help-for-Homeowners%3A-Foreclosure-Bill-Of-Rights.md diff --git a/Help-for-Homeowners%3A-Foreclosure-Bill-Of-Rights.md b/Help-for-Homeowners%3A-Foreclosure-Bill-Of-Rights.md new file mode 100644 index 0000000..4c84820 --- /dev/null +++ b/Help-for-Homeowners%3A-Foreclosure-Bill-Of-Rights.md @@ -0,0 +1,105 @@ +[trulia.com](https://www.trulia.com/rent/)
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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
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- A Renter's Rights in Foreclosure. +- Rent-To-Own and Installment Contracts. +- Renter's Insurance
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- 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. +- Looking for Insurance. +[- Managing](https://www.greencastlebnb.com) and Mitigating Losses
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Residential Foreclosure Actions Consumer Bill of Rights
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This Residential Foreclosure Actions Consumer Bill of Rights supplies assistance to homeowners dealing with foreclosure in New york city. A foreclosure is a suit, and homeowners ought to look for support from a lawyer or housing counselor in checking out prospective legal defenses to the fit. should also know their basic rights and responsibilities highlighted listed below.
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Throughout the Foreclosure Process
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You deserve to stay in your home and the responsibility to preserve your residential or commercial property unless and until a court orders you to vacate. 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 prevent this result, remain in your home and carefully review and react to documents you get from the complainant or the court in your foreclosure case. A failure to respond or appear in court when required to do so could make it much easier for the plaintiff to reveal that your residential or commercial property is uninhabited and deserted, which could put you at danger of an expedited foreclosure.
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You have a right to be represented by a lawyer and might be eligible free of charge legal or housing therapy services.
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You have a right to be devoid of harassment or foreclosure frauds. Strongly think about seeking advice from with a lawyer or [housing](https://www.defclarea.org) counselor, if offered, before signing any documents. If you are the target of harassment or scams, contact DFS by calling our Consumer Hotline at (800) 342-3736.
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You have a right to prevent foreclosure if you repay your loan completely at any time previous to the sale of your home, or if you negotiate a settlement with the plaintiff.
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Before a Foreclosure Action Begins in Court
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You have a right to be notified a minimum of 90 days before a foreclosure fit is submitted notifying you that you remain in default and at danger of foreclosure. You can explore "loss mitigation" options that may enable you to keep your home and prevent litigation. The bank or mortgage servicer is needed to assist you understand your loss mitigation options. If you have actually sent a completed loss mitigation application, your bank or mortgage servicer need to finish its review of your application before continuing with the foreclosure fit.
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RPAPL § 1303 has actually been changed to need [plaintiffs](https://venusapartments.eu) in foreclosure actions to offer a more specific and useful notice to borrowers concerning their rights and responsibilities during the foreclosure process. Specifically, the notification needs to show that property owners have the right to remain in their homes until a foreclosure sale occurs and the obligation to keep their residential or commercial property and pay relevant taxes till such time. This area is meant to help avoid residential or commercial properties from ending up being vacant in the very first place. Read the particular language required by RPAPL § 1303.
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RPAPL § 1304 requires mortgage lenders to offer debtors a minimum of ninety days' notification before beginning a foreclosure action. Currently, this Pre-Foreclosure Notice (" PFN") need to include the following language: "Since ___, your mortgage is ___ days in default ... You can cure this default by making the payment of ___ dollars by ___." Unfortunately, customers often interpreted this arrangement to indicate that as long as the debtor offered the mentioned quantity by the date defined, the loan would be restored. On a regular basis, the "treatment date" specified in the PFN is the earliest date on which the financial institution can begin a foreclosure action, which is 90 days after sending out the PFN. When the debtor waits a full 90 days to supply the amount specified, any missed payments and associated interest and costs from the stepping in months would be contributed to the deficiency. In such a case, the customer who sends the quantity set forth in the PFN would stay in default due to stepping in accruals, in spite of his or her good-faith efforts to attend to the default defined in the PFN.
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The brand-new law addresses this concern by changing the first line of the notification to read "As of ____ your mortgage is ____ days and ___ dollars in default." Similarly, it adds language to RPAPL § 1304 which highlights the borrower's ongoing rights and obligations throughout the foreclosure procedure. Read the brand-new pre-foreclosure notification language.
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Once a Foreclosure Action Begins
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You deserve to receive a copy of the legal papers in the foreclosure claim when it starts. This is known as "service" of the Summons and Complaint. You need to react to the Summons and Complaint with an "Answer" within 20 days after you have actually been personally served, and within one month if served on you by other methods. The Answer is your chance to state your defenses.
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You need to speak with an [attorney](https://yes.wedding) or housing counselor for help in this procedure.
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You have an obligation to appear at all scheduled court appearances. If you stop working to appear, you run the risk of losing essential rights, which might cause the loss of the case and your home.
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You have a right to request court permission to proceed without paying court expenses.
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At a Mandatory Settlement Conference
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You have a right to an explanation of the nature of the foreclosure action versus you.
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Both celebrations have a commitment to bring all essential documents to the settlement conference. For a basic list of needed documents, visit the Mandatory Settlement Conference details page.
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Both parties must negotiate in "excellent faith", which suggests truthfully and fairly. If you fail to do so, you may lose the opportunity to pursue a court-supervised settlement. If the bank or [mortgage servicer](https://royalestatesdxb.com) fails to do so, the court may impose likewise significant charges. Negotiating in excellent faith does not need either celebration to settle.
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If you previously stopped working to send an Answer, you will be offered an extra 1 month to do so at the settlement conference.
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After Settlement Agreement or Fully Executed Loss Mitigation Agreement
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Within 90 days of [completing](https://www.propbuddy.my) a settlement, the lis pendens classification on your residential or commercial property, which cautions people that title to your residential or commercial property is in conflict, should be raised.
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You might be accountable for extra taxes if you reach a settlement that consists of financial obligation forgiveness. Consult from a tax expert about any resulting tax consequences.
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After Judgment of Foreclosure and Sale
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Upon a judgment of foreclosure and sale, the new owner can seek to evict you from the residential or commercial property.
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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, based on particular deadlines. It is essential to look for assistance from a legal company if you believe you are owed a surplus.
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If the home is offered for less than what you owe, the lender may submit an application for a judgment versus you for the difference, referred to as a shortage judgment. You may can object to the amount of any shortage judgment, including interest and penalties.
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Get Help! Contact a Not-for-Profit Housing Counselor
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Housing counselors that deal with foreclosure-related problems can provide you recommendations on your choices and resources at little or no expense. They might also be able to work out with your lending institution for totally free and help you find totally free legal services in your location.
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Housing therapy resources for New Yorkers consist of:
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- New York's Homeowner Protection Program (HOPP), which gets in touch with housing therapists and legal services at no charge. Call the HOPP hotline at (855) 466-3456 or check out homeownerhelpny.com. +- You can find a list of authorized non-profit housing therapists by county here, on the DFS website. +- 24-Hour assistance is readily available [toll-free](https://www.vitalproperties.co.za) on the HOPE NOW hotline at 888-995-HOPE (888-995-4673). HOPE NOW is an alliance of HUD approved counseling representatives, servicers, and investors that offer free help. +- If you live in New York City, you can likewise call 311.
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If you remain in a foreclosure lawsuit, you should seek advice from a lawyer.
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Seek Legal Assistance
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[Contact](https://primeestatemm.com) a legal representative and review your mortgage files. Ensure your loan is not in infraction of any laws. If you do not have a lawyer, the New York State Bar Association might be able to refer you to a proper attorney for your situation.
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If you can not pay for a personal lawyer, resources for complimentary or inexpensive legal assistance include:
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- New york city's Homeowner Protection Program (HOPP), which links with housing counselors and legal services at no cost. Call the HOPP hotline at (855) 466-3456 or go to homeownerhelpny.com. +- The New York State Bar Association's Lawyer Referral and Information Service. +- The Legal Service [Corporation](https://donprimo.ph) site. +LawHelp.org, an online directory of complimentary legal company in New York.
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