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In foreclosure, what happens to my stuff?

Rochester, NY |

My mother, I believe, has been getting foreclosure notices. Unfortunately, the house is in such disrepair and we are so strapped for cash, it's our only option. When we are finally deemed "foreclosed", I've heard that everything inside the house and on the property can no longer be removed from the premises, as it is owned by the bank. Is this true? Will anything I am unable to get out within alotted time cease to be mine and belong to the bank?

Attorney Answers 1

Posted

I do not think that is a very accurate explanation. Foreclosure not only concerns the repossession of the house, but also a lawsuit for the payment of fees associated with foreclosure and is an attempt to collect a debt. In some lawsuits, the creditor secures a money judgment as well as a foreclosure and then has the ability to attach assets such as furniture.I am assuming your mother is the owner, and you have stuff there, which you might want to remove for safe keeping. Also, NYS has numerous programs for helping people who are facing foreclosure, and in certain cases bankruptcy may help. Avoid using debt "settlement" companies which are rarely legitimate. Read the various legal guides posted on avvo to learn more about your legal options. Confer with legitimate counsellors associated with banks, or the state or non profits.
On my profile there are several legal guides. I recommend reviewing the following which may be helpful to you:

Hiring a lawyer; Is it Legal? Is it Illegal?...Understanding the different court systems;
Introduction to Legal terms used in litigation; Limitations on a Lawyer’s License: What a Lawyer Can and Cannot Do……….……………………..…………………………..

Commercial litigation: How to Handle a Dispute
How New York State Protects Consumers from Debt Settlement and Debt Collection Agencies, Part I and Part II.
Legal Aide for the Elderly and Poor Facing Foreclosure

LEGAL DISCLAIMER…………………………………………………………………..
Mr. Sarno is licensed to practice law in NJ and NY. His response here is not legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Sarno strongly advises the questioner to confer with an attorney in their own state to acquire more information about this issue.

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