Question: I own a home in the state
of New York. The bank had a
foreclosure auction at the court house and no one
purchased the home. I expected to get a notice on my
door to move out, but it has been 5 months since the
foreclosure auction and nothing happened. I was told
me to go to the county clerk’s office and see if the
bank filed a new deed. I checked yesterday and the bank
has yet to record a new deed and take ownership of the
house. Something might be wrong. I would like to keep
the house if possible. What can I do?
Response: It sounds like the
foreclosure auction did not take place. You can
check via e-courts, an electronic New York State court
database, the notation next to the scheduled
foreclosure auction date. If it says ANH (Auction
Not Held), you will know for sure. If it says auction
held, you can check with the Plaintiff’s
attorney.
If it’s been 5 months, it’s more likely than not that
foreclosure auction did not occur. Once the
foreclosure sale takes place, you become a holdover
tenant and the owner must file an eviction proceeding,
same as in Landlord tenant cases. Most of the time, it
is the lender that owns your loan that purchases the
property. In the meantime, if
foreclosure did not take place, you can: (1) apply
for a
loan modification, which usually leads servicers to
stop the sale at their own initiative to conduct a
review; (2) file an Order to Show Cause to stop the
foreclosure sale; (3) file
bankruptcy, which will immediately stop the
foreclosure sale even if it’s the day of the
foreclosure sale.
In the legal blog, Attorney Svetlana Kaplun addresses typical questions our firm has received from our clients, or come across from homeowners related to foreclosure, foreclosure defense, loan modification and bankruptcy topics.
The information contained in the legal blog of Attorney Svetlana Kaplun is for informational purposes only, and should not be construed as a legal advice on any subject matter. Please read our full disclaimer or contact the Law Office of Svetlana Kaplun, P.C. by telephone at 718-444-1115 for more information.
Copyright © 2015 Law Office of Svetlana Kaplun, P.C.
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