New York is the first state to suppy homeowners facing foreclosures legal aid. Criminal defendents are guaranteed legal assistance, but New York will be the first state to extend that pledge to foreclosures. Right now there are about 80,000 active foreclosure cases in the New York courts, and in more than half of them only the banks have lawyers. This is an uneven scenario. Banks wind up with the property and the homeowner winds up on the street. It is not in anyone's best interest, including the banks.
Within the next few weeks, the procedures will be put in place in Queens and Orange Counties and across the state by the end of the year. Any homeowner in foreclosure, who does not have a lawyer will be supplied one by legal aid groups or other pro bono groups. This will make the proceedings more efficient.
Several major banks have been cited as using improper methods to speed foreclosure. Homeowners can sharply delay the proceedings by simply responding to a foreclosure notice in court. This is a change from when the foreclosure crisis began a few years ago. Most homeowners would not show up at court proceedings and would simply abandon their homes. Inevitably, the lenders would be the winners. Now, New York mandates settlement meetings overseen by a judge and and attended by the lender. Homeowners are participating but those without lawyers are not equiped to defend themselves.
This will be a great asset to homeowners facing foreclosures because attorneys can take more of an early intervention in the case, helping with the accuracy of the documents and significantly slowing the pace of the foreclosure. Homeowners, dealing with the necessities of life, now will get a fair day in court.
If you have a home to sell, and would like a current market analysis, with no obligation, you can call me at
917-575-0583
Gaye Granice, Associate Broker
Appleseed Homes
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