What Happens if I Miss a Mortgage Payment in New York State?

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What Happens if I Miss a Mortgage Payment in New York State?

The thought of missing a mortgage payment is frightening to homeowners, as they often believe this will lead to foreclosure. In many cases, it can, however, it does not have to. Please continue reading and speak with our Rockland County foreclosure defense attorneys to learn more about how we can help if you miss a mortgage payment. Here are some of the questions you may have:

What happens if I miss a mortgage payment in New York?

If you miss a mortgage payment, first and foremost, it is not the end of the world, especially if you know it was a fluke and that it will never happen again. That being said, after missing a mortgage payment, it is critical that you speak with the loss mitigation department at your lender immediately. If you find yourself in a situation where you know that you will be unable to make an upcoming mortgage payment, it is critical that you contact your lender immediately and inform them of this. The sooner you let your lender know, the sooner they can begin finding alternative payment plans to help get you back on track. If you are unable to make mortgage payments for the foreseeable future, however, you should strongly consider hiring an experienced Rockland County foreclosure defense attorney as soon as you can.

How long will it take for my mortgage lender to foreclose on my home?

You should first understand that the foreclosure process is different for everyone, and the duration of the process varies greatly between homeowners. In some cases, if you do nothing to prevent the foreclosure, there is a very good chance that your lender will expedite the foreclosure process, which can bring your house to auction within one year from the date of your first missed payment. That being said, if you take action to stop the foreclosure, such as by hiring an experienced New York foreclosure attorney, we can do everything in our power to delay, and even completely stop the foreclosure altogether. If you have any additional questions or you believe your home is in jeopardy, the time to act is now, and we are here to help. All you have to do is pick up the phone and give us a call today.


Here at The Law Offices of David M. Katz, P.C., we understand how frightening the prospect of losing your home due to foreclosure can be. For this very reason, our experienced attorneys have dedicated decades of our professional careers working to help those facing foreclosure stay in their homes and move on with their lives. Contact our firm for the experienced, compassionate guidance you deserve and need. 

How Do We Fight Against Foreclosure?

The Law Office of David M Katz, P.C. has extensive experience helping New Yorkers save their homes from foreclosure. Foreclosure itself has a wide range of impacts that can be avoided with the help of our firm. It is time to get the relief you deserve. Contact us today.

Loan Modification

You may be eligible to save your home by adjusting your mortgage. Every residential foreclosure lawsuit must go to the Foreclosure Settlement Conference to see if you qualify for a loan modification. We can represent you.

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Loss Mitigation

Loss mitigation stops foreclosure in its tracks, requiring your lender to assess your financial ability to see if you qualify for a government or internal bank loan modification. Having an experienced attorney is invaluable.

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Mortgage Litigation

You may be facing an illegal foreclosure, and it may stem from the terms of your loan, or much more. Our law firm is ready to explore every potential defense on your behalf.

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