The settlement conference is an opportunity to talk to the lender and decide if there are options for you aside from foreclosure.
These may include loan modifications, short sales, deed in lieu of foreclosure, or a forbearance agreement.
You’ll need to bring the following documents, at the very least:
- Proof of your current income. This can be several recent pay stubs or bank records showing a regular deposit from your current job.
- Your most recent tax return, even if your job has changed since it was filed.
- Your most recent property tax statement, even if your property taxes have changed.
If you have other financial information that you feel is pertinent, bring those records as well.
We advise our clients to work with a qualified New York foreclosure attorney and to bring counsel to the settlement conference.
The law allows for multiple settlement conferences if progress is being made, and New York courts have even held that ongoing settlement conferences are a defense against the lender advancing the foreclosure process.
Don’t go into a settlement conference alone.
Call the foreclosure attorneys at Zelenitz, Shapiro & D’Agostino at 718-599-1111 for a free consultation with experienced Queens lawyers.