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Foreclosure Settlement Conferences

On December 15, 2009, legislation was signed into law in New York requiring all lenders seeking to foreclose on their mortgages to attend a settlement conference. Lenders are required to participate in such conferences prior to being able to move forward with foreclosure lawsuits.

The purpose of these conferences is to allow the court an opportunity to try to work out a settlement to stop the foreclosure from moving forward. Most of the settlements involve the parties entering into a mortgage modification arrangement concerning the mortgage.

Mortgage Modification

At the settlement conference the court meets with the attorneys and inquires as to whether the matter can be resolved amicable. We usually advise the court that our clients seek to remain in their home and we want to work out a mortgage modification to accomplish this.

The court will usually adjourn the case to allow the mortgage modification process to go forward. On the next court date we go brief the court concerning the status of the mortgage modification process. We use this technique to try to exert pressure on the financial institution to agree to a mortgage modification.

Our law office has extensive experience in representing our clients at foreclosure settlement conferences throughout the metropolitan New York area. Our attorneys have participated in hundreds of these conferences. We have the resources, the experience and the knowledge to assist our clients in obtaining mortgage modifications to help deal with the foreclosure of their home. By submitting an answer, asserting counterclaims and tying the case up in court, the debtor is often able to obtain leverage to motivate the financial institution to enter into an appropriate, realistic mortgage modification that the debtor can afford to pay.

New York Foreclosure Attorney

Contact us for a free consultation to discuss your case and our qualifications to represent you. Feel free to call toll free any time, day or night, at 1-800-344-6431, or in Queens, Kings, Richmond and the Bronx at 718-350-2802. You can also reach us in Nassau or Suffolk County at 516-561-6645. We welcome your inquires.

How Much Are Your Attorney Fees?

There is no charge for an initial consultation. We will be happy to arrange an appointment to evaluate your case and allow you to explore how an attorney–client relationship with our firm can benefit you. Your attorney will discuss fees before taking your case.

Our law firm strives to maintain reasonable rates. The length of time required to resolve your issue is the primary factor in fee determination. We keep a tight rein on your legal. The services you pay for are promptly and efficiently delivered. Our firm will work out payment plans and accepts credit card payments

Legal Services that Fulfill Your Needs

When you seek our legal advice and guidance, our attorneys carefully explain the law as it relates to your case, the legal remedies available to you and the best course of action to resolve your problem and meet your objective. We are always prepared to answer your questions, promptly return your calls and keep you updated on the status of your case.

Contact The Law Offices of Elliot S. Schlissel

If you have questions about the Law Offices of Elliot S. Schlissel or the legal services we provide, we invite you to call us at (800) 344-6431, (718) 350-2802 or (516) 561-6645. Our phones are answered 24/7. For our Spanish-speaking clients, se habla Español.

New York Foreclosure Attorney – Foreclosure Settlements

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