Foreclosure settlement conferences are a form of mediation between a borrower who is struggling to pay a mortgage and the mortgage lender.
Within 60 days of the lender filing a complaint with the court to begin the foreclosure, a settlement conference must be scheduled with eligible homeowners.
Terms of eligibility include:
- The property is residential,
- It is owner-occupied,
- The property is a house or condominium with between one and four units.
If you meet these terms, your mortgage lender is required to schedule a settlement conference before the foreclosure action can move forward.
You are not required to attend, but if you want to continue fighting the foreclosure action, we strongly advise that you do.
If you want to fight foreclosure, don’t go it alone.
The mortgage attorneys at Zelenitz, Shapiro & D’Agostino can help you face your mortgage lender and negotiate a deal to save your home. Call us today at 718-599-1111 for a free consultation.