Notice of Default / Notice of Delinquency
This is a letter stating how far behind you are in making payments and how to restore your mortgage loan to a current status. These letters should be treated with urgency, and upon receipt of either, you must respond and you should try to take corrective action. This letter is usually sent after three missed consecutive payments.
Notice of Acceleration
This is a letter giving you the opportunity to satisfy the loan balance in full to prevent foreclosure. It is the official notice from the lender declaring that it wants to terminate the mortgage loan and that it intends to take ownership of your home unless you can pay the entire loan balance in full or work out a settlement.
Foreclosure Case Initiated
The lender files a summons and complaint with the court. The summons and complaint are served on the borrower and the borrower then has 20 days to answer if served (handed it) in person and 30 days if served (received it) by mail.
A written response to the complaint is called an Answer and must be submitted by the borrower to the lender’s attorney, and filed with the court. It is due 20 calendar days from the date of service if the borrower is served in person, or 30 days if they are served by mail. It can be submit-ted with an attorney’s help or without, if you are representing yourself (pro se). The answer contains defenses to the foreclosure and may include counterclaims. If the borrower does not answer, they will default in the foreclosure case, which means the lender wins and can now schedule a foreclosure sale.
Mandatory Settlement Conferences
This is the last step at which volunteer clinic and conference attorneys offer assistance. The court must hold a settlement conference within 60 days of when proof of service of the foreclosure action is filed with the county clerk. It is held in the basement of the Supreme Court in the Foreclosure Part. In the back of the room, you will see a table with volunteer attorneys who can offer you advice and go before the Referee/Judge with you to help in your defense. However,they cannot take your case.
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