(516) 234-0024 Free property review

Foreclosure help, explained plainly.

If you're behind on payments, holding a notice, or watching a sale date get closer, we'll look at where you stand and walk you through the options that may still be open.

Request a free, confidential review Call (516) 234-0024
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Where you might be.

Foreclosure usually moves in stages. Knowing which one you're in tells you how much time there is and which options are realistic. Exact rules and timelines depend on your state and your loan.

  1. Missed payments

    After a missed payment, lenders usually send late notices and may report the late payment to credit bureaus. This is generally the stage with the most options still open.

  2. A default notice

    A formal letter says the loan is in default and what it would take to bring it current. Read it closely: it often contains deadlines and the amount needed.

  3. The foreclosure filing

    In judicial foreclosure states, including New York, the lender files a case in court and a Lis Pendens is recorded publicly. Court papers have response deadlines.

  4. A sale date

    If the case ends in a judgment, a foreclosure sale is scheduled. Time is short, but some options can remain open until the sale actually happens.

Options worth discussing.

Which of these is open to you depends on your lender, your equity, your income and your dates. We'll go through the ones that fit your situation and tell you plainly when one doesn't.

Repayment plan

Past-due amounts are spread over several months on top of the regular payment.

Works best when the hardship is over and income has recovered.

Forbearance

Payments are reduced or paused for a set period while you recover from a hardship.

The paused amount still has to be repaid or resolved later.

Loan modification

The lender changes the loan's terms, such as the rate, the length or the payment, sometimes adding missed payments to the balance.

Lenders decide case by case and can say no.

Reinstatement

Paying the full past-due amount, with fees, to bring the loan current.

Requires the funds, usually as a lump sum.

Short sale or settlement

Selling for less than is owed, or settling the debt, with the lender's approval.

Any remaining balance has to be addressed in writing.

Selling before the sale date

A listing or a cash sale that closes before the foreclosure is completed, so any remaining equity stays with you.

Timing is everything; the closing must happen in time.

Deed in lieu

Handing the property to the lender in exchange for releasing the loan, avoiding a foreclosure sale.

Not every lender accepts it, and other liens can block it.

Legal defense

A foreclosure attorney reviews the case, the paperwork and the timeline, and responds in court where appropriate.

Legal advice comes from an attorney; we help you find one.

What we can't do.

No one can honestly promise to stop every foreclosure or every auction. What you can expect from us is clear guidance and a fast response while there is still time to act.

Green Light Home Solutions is not a law firm and does not act as your attorney. When your case needs legal help, we can help you find an attorney who handles foreclosure defense, prepare your questions for that first call, and stay involved on the practical side while your attorney handles the legal side.

Foreclosure questions

Can you stop my foreclosure?

No one can honestly promise that. Depending on your timeline and your lender, there may be ways to delay a sale, change the loan, or sell first. We'll tell you plainly which options look realistic for you.

What is a Lis Pendens?

A Lis Pendens is a public notice that a lawsuit affecting the property, such as a foreclosure, has been filed. It does not mean the home has been sold. It does mean the process has started, and the time to understand your options is now.

I'm only one or two payments behind. Is it too early to call?

No. Early is usually when the most options are open, including repayment plans, forbearance or a loan modification. Waiting tends to narrow the choices.

What is a loan modification?

A loan modification is a change to the terms of your mortgage agreed by your lender, for example the payment, the rate or the length of the loan, sometimes folding missed payments into the balance. Lenders decide case by case, and approval is never guaranteed.

What is a short sale?

A short sale is a sale for less than what is owed on the mortgage, with the lender's approval. It can be an alternative to foreclosure when keeping the home isn't realistic. How the remaining balance is treated depends on the lender and the agreement, so it should always be checked in writing.

The earlier you call, the more you can do.

Tell us a little about the property and what's happening. We'll get back to you to talk it through. Often that first conversation is enough to see where you stand.

Call (516) 234-0024

Check if we work in your area

We work across New York City and Long Island: the five boroughs, Nassau and Suffolk.

A couple of quick questions

What's happening?

Is a sale or auction date set?

Where should we send your free review?

Street, city and ZIP code.

Best way to reach you

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