How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 54026
Experience:  Attorney with 29 years of experience.
17027240
Type Your Legal Question Here...
Richard is online now
A new question is answered every 9 seconds

I have a recorded (private)mortgage from 1989. in NY can I

Customer Question

I have a recorded (private)mortgage from 1989 . in NY can I foreclose. I have not attempted to recover because there were others in front of me that have now been satisfied
Submitted: 3 months ago.
Category: Legal
Expert:  Richard replied 3 months ago.

Good morning Keith. My name is ***** ***** I look forward to helping you. It will take me a few minutes to type my response. Thanks for your patience!

Expert:  Richard replied 3 months ago.

Yes, you can foreclose on the property if the loan is in default. The entire process in NY can take up to 12-18 months so you might want to encourage the borrower to give you a deed in lieu of foreclosure. The foreclosure process in NY is summarized in N.Y. Real Prop. Acts. Law §§ 1301 to 1391. You can find these statutory provisions at this link: http://tenant.net/Other_Laws/RPAPL/rpapl13.html

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (hopefully Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

Related Legal Questions