If you have recently received a foreclosure notice, you are likely anxious and unsure of what you should do next. Fortunately, there are a few basic steps you can start to take that can maximize your chances of a good outcome in your case. Here are five things you should do after you have received a foreclosure notice:

  1. Save the notice and any other documentation
    • When many people receive their foreclosure notice, their first impulse is to throw it away and pretend they never saw anything. Unfortunately, this does little to protect you from the foreclosure process, and can make it harder to defend your case. Instead, begin saving anything you receive from your mortgage servicer, including any notices or communications, which can be vital in your case.
  2. Remain in your home
    • Another bad impulse that many people have after they receive a foreclosure notice is to leave their home behind. Far from helping their situation, this almost guarantees they are going to lose their home, and they might face additional penalties on top of that. Instead, stay in your home while the foreclosure is ongoing, and make sure to perform upkeep on the property to avoid having the value go down.
  3. Talk to your mortgage servicer
    • Believe it or not, mortgage lenders do not like to foreclose on properties. Instead, they would much prefer to keep receiving mortgage payments, so they are often willing to negotiate with mortgagees who are falling behind. However, that means you need to talk to them, and not just ignore communications once you receive your foreclosure notice.
  4. Check for financial assistance
    • Many states, including New York, have financial assistance programs for people who are falling behind on their mortgage. These programs can be vital for helping you to keep your home after you have received a foreclosure notice. Check to see if you qualify, and don’t be afraid to ask for help if you are unsure of how to apply for them.
  5. Speak to a lawyer
    • Once you have received a foreclosure notice, you should contact a lawyer as soon as possible. An attorney with experience handling foreclosure cases can help to advise you on your legal rights, and help you to find a solution that can best suit your needs. The sooner you call, the sooner they can get to work helping you with your case.

At David J. Lorber & Associates, PLLC, we assist clients throughout New York who are at risk of losing their homes to foreclosure. We will explain your options and guide you in making the best decision for your circumstances. Call us at (631) 750-0900 or contact us online to schedule your Free consultation at our Setauket office.

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