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foreclosure

This section of the website tells you what to do in a New York State Supreme Court case after you get a foreclosure Summons and Complaint. As a result, many lenders either simply ink an agreement with the homeowner to take the property back (called a deed-in-lieu of foreclosure – see No. 4 in 5 Ways You Can Stop the Foreclosure Process) or buy it back themselves at the auction. If the court decides in favor of the lender, it will enter a judgment ordering the sale of your home to satisfy the debt.

Today, numerous state laws and regulations govern foreclosure to protect both the mortgagor and the holder of the mortgage from unfairness and fraud. People : To enhance their knowledge on foreclosure properties, related acts, procedures involved, latest developments, and dispel myths about foreclosure properties. Homes in any stage of foreclosure may require significant repairs just to …