Tag Archive: negotiation

Foreclosure Proceedings and the Right of Redemption in NY

New York is a judicial foreclosure state and the process can take over a year to proceed from Summons & Complaint through judgment and then auction. A homeowner has a right to redeem up and until auction, but unlike many states, there is no right of redemption after Sale (but see Bill proposing to allow [...]

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Contract Contingencies: Sale of Purchaser’s Current Residence

While the first time home buyers are out in force looking to purchase a home, the reality is that a good part of the elusive purchaser pool is made up of homeowners looking to trade up to a new home. Which means, for the most part, they need to sell their current residence to [...]

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Pt II: So You’re a Distressed Property Consultant: How to Stay Compliant with NY’s Foreclosure Prevention & Responsible Lending Act of 2008

If you are a Distressed Consultant, as defined in the NY Foreclosure Prevention & Responsible Lending Act of 2008 and discussed in a prior post, then you need to know how to stay compliant with the law to avoid civil and criminal penalties.

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