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Written by LAFL Staff
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www.LawNY.org
Legal Steps the Bank Will Take
The bank will usually send you many letters that ask you to catch up with your monthly payments. It usually takes several months for the bank to decide that it will start a foreclosure case to take back your house. Your mortgage cannot be foreclosed on without a court action. You will be served with a notice and given 20 days to answer the papers. If you do not answer the court papers, the bank will probably ask the court for permission to sell your home at a foreclosure sale. Even if you do answer the court papers, the court will eventually give the bank permission to sell your home if it decides that you have failed to make your payments. You should talk to a lawyer about what defenses you can write in your answer. |
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Beware of Rent-To-Own Agreements |
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Written by Deborah Muntner
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www.LawNY.org Many people who sign rent to own agreements end up evicted and lose all the money they put into the home! A rent-to-own home may seem like a good choice if you want to buy a home right now but need a little time to save for a down-payment or build up your credit rating. But at LawNY, we have noticed that some landlords “sell” the same home over and over again. Tenants sign a rent-to-own agreement, move in, and fix up the home. After six months or so, the landlord finds a reason to evict the tenants and keeps all of their money and their improvements. Then the landlord gets someone new to sign a rent to own agreement. |
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Written by Administrator
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Thanks to Americorps Volunteer Chris VanKirk, LawNY is starting to provide information for you by video. Our videos are hosted on YouTube. Here are two samples of Chris's work so far: General Eviction Video
Getting Help from LawNY (Geneva Office) Video
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