Foreclosure Litigation in New York

What it means in New York:
Foreclosure litigation involves legal actions taken to enforce mortgage obligations through the court system.

Key points:

• New York is primarily a judicial foreclosure state
• Foreclosures proceed through New York State Supreme Court (civil term)
• Lenders must file a lawsuit to foreclose
• Homeowners have the right to respond and raise defences

New York-specific considerations:

• Redemption Rights
  • Limited, depending on foreclosure type
• Mediation Programs
• Certain counties offer foreclosure prevention and settlement conferences
• Permitted in some cases, subject to statutory limits
• Deficiency Judgments
• Court timelines and procedures vary by county

Whom it applies to:

• Homeowners facing foreclosure
• Property owners involved in litigation
• Borrowers seeking to challenge foreclosure actions