Don't Foreclose. Fight it.
Channel: Global Property Systems Real Estate
Date: 19/01/2020

Don't Foreclose. Fight it.
Foreclosure in New York State is conducted in several steps. We’ve outlined those steps for you below to give you an understanding of the process.
#foreclosure #lispendens #shortsalespecialist 

SUMMONS AND COMPLAINT
After you miss 3-4 mortgage payments (although this can be much longer), the bank sends you an Acceleration Letter. This means you must pay the entire loan amount by the timeframe stated in the letter, or the bank will initiate foreclosure proceedings. At this point, the bank will stop accepting mortgage payments.

Next, a 90 Day Notice, which is a requirement for the bank under the law, will be sent to you informing you of what steps you must take in the next 90 days to avoid foreclosure (Banks will sometimes send a 90 Day Notice before an Acceleration Letter).

Following this, the bank files a lis pendens and the summons and complaint with the court and serves you with the summons and complaint. This is crucial because you have 20 days to respond if you are served personally. If you find the summons and complaint on your door, you have 30 days to answer.

Failing to file an answer may mean you forfeit potential legal rights and defenses.
CALL US; we can help

Global Property Systems puts the REAL back into Realty.
https://globalpropertysystems.com

Global Property Systems - Boldly Challenging The Status Quo

Our Local Area Specialists are licensed in NY, NJ, CT & PA. We are all members of the National Association of Realtors and multiple MLS systems.  As Certified Pricing Strategy Advisors, we will outperform any algorithm by taking into consideration the "human" factor: Your style, your upgrades, and what needs to be fixed or not, even your location, your immediate neighborhood,  will make a difference to the actual market value of your home. No algorithm, such as online "Guestimates," can account for these things. 
GPS puts the REAL back into Realty. 

Global Property Systems - Boldly Challenging The Status Quo
Years before the world changed, we had rethought everything.    

Whether buying or selling, to stay ahead of the game, you need more than just one person to ensure a successful transaction. Success is a team sport. GPS consists of a salaried team of marketing and real estate professionals working in your corner toward the same goal. 

We document all our transactions on the blockchain.  (This means that there is no finagling, nothing is hidden and you, as a buyer or seller, see everything).

We are based in the Hudson Valley of New York. Our head office is in White Plains, Westchester, NY, with an office in our Central Park West Location in Manhattan.  Our Local Area Specialists live, work, and play from their homes in the Hudson Valley and beyond.

We also have offices in Europe and Asia with a network of trusted international partners to provide exemplary real estate & marketing services to our clients worldwide... 

The Global Property Systems Community consists of

SRES Senior Real Estate Housing Specialists
CIREC Commercial & Investment Real Estate Certified
CCA Certified Commercial Advisor
CIPS Certified International Property Specialists
RSPS Residential Second Property Specialists
SRS Seller Representative Specialists
CBR Certified Buyer Representatives
CNE Certified Negotiation Representatives


FIREC Federation of International Real Estate Certified
GPS is a BLOCKCHAIN & CRYPTO CERTIFIED BROKERAGE
CDPE Certified Distressed Property Experts
CPRES Certified Probate Real Estate Specialists

Plus, Attorneys, Financial Advisors & Loan Officers, Stagers, Organizers, and many other client-approved service providers, can be found on our website (see below.)


Global Property Systems
The Marquis, Suite 320 - 380
56 Lafayette Ave, White Plains, NY 10603
Tel: 914-368-0022
connect@gpshousehunt.com
https://globalpropertysystems.com
https://searchhomesinny.com

Global Property Systems puts the REAL back into Realty.