90 Day Pre-Foreclosure Notice
Under New York State law, the mortgage holder must mail you a 90 Day Pre-Foreclosure Notice at least 90 days before starting a foreclosure case. The notice must be mailed to you by regular and certified mail. This notice is important. It gives you a chance to see if you can work with the mortgage holder to avoid foreclosure. If you don’t get a notice or a correct notice before a court case is started against you, this is a reason that the court can dismiss the case (see Common Defenses in a Foreclosure Case).
What the 90 Day Notice Must Say
The notice says:
- The number of days that you are in default on your mortgage payments
- The amount of money you must pay to catch up
- The phone number of the mortgage lender
- A list of at least five non-profit foreclosure avoidance counseling groups in your area who can help
- The NYS Department of Financial Services’ free helpline number and website
- That if the matter is not resolved within 90 days, the mortgage holder will start a foreclosure court case against you
If you get this notice do not wait to get help from one of the free or low-cost government approved foreclosure housing counseling groups.
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