In New York, foreclosure actions are governed by a six-year statute of limitations. This period begins when a foreclosure action is filed, also known as the acceleration of the loan. Once accelerated, the lender has six years to recover amounts due—such as interest, taxes, and insurance—dating back from the filing date. However, for years, banks
Hiring an attorney with substantial experience in foreclosure defense is one of the most important decisions you can make if you’re facing foreclosure. Residential foreclosure law includes numerous protections and strategic opportunities for homeowners—many of which can be missed if your attorney is not well-versed in this highly specialized area of law. Foreclosure defense involves
Once you have been served with a summons and complaint in a foreclosure action, it is vital to respond, preferably with the assistance of an experienced foreclosure attorney. No matter how far behind you are on payments, there are many legal protections for homeowners in foreclosure that a layperson might not be aware of. The
The Foreclosure Abuse Prevention Act (“FAPA”) was passed by the Legislature to prevent banks from manipulating the statute of limitations period to the clear detriment of New York homeowners. No other civil plaintiffs in New York have been permitted to manipulate the statute of limitations – and other laws and procedures — the way foreclosing banks have
