Missing a mortgage payment usually incurs a late payment. But, missing more than one or two payments can trigger a lender to take stronger steps, including sending a default notice.
If you have fallen behind on your mortgage payments, and expect to fall behind on additional payments, it is better to start working with your lender sooner, than later. Depending on your situation, you may be able to get some "breathing room" from the lender, and can perhaps amend the mortgage in a way that can help you if you're unemployed, or have fallen ill.
New York State has certain orders in place by the Governor to stop any foreclosures, but there are details, specifics, and time frames involved. The federal CARES ACT may only apply to certain lenders.
If you think you will be having trouble paying your mortgage and want to save your home (or commercial property), call today. Let's make sure that your lender is following all applicable laws and see if the lender is open to working with you to keep your home or other property from foreclosure. Any agreed terms towards that goal must be clear and in writing.
We charge a $250.00 flat fee, but "only" if we can get an agreement that you find acceptable to protect your home.