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CPLR Rule 3408 Conferences

Massapequa Real Estate Foreclosure Lawyer

If you are facing foreclosure, the Civil Procedure Law and Rules 3408 Conference is your opportunity to meet face to face with a representative from your lender. It is scheduled by the clerk of the court 60 days after the lender files suit for foreclosure. The CPLR 3408 conference is a court-supervised loan modification, short sale or deed in lieu discussion. Borrowers can normally modify or apply for a short sale. The benefit of the conference is that the banks often claimed they did not receive, lost or need additional paperwork.

The conference is a court-supervised loss mitigation program so they help control the bank during the process making sure that the bank receives documents, gets any missing documents and gives short dates for decisions by the bank. If the court feels the bank is acting bad faith, they keep the case in the settlement part preventing the bank from using the court system to proceed. Its imperative to hire an attorney for this process as some banks do not want to consider loss mitigation and the court will let them proceed without a fight. When this occurs, it is vital that you are represented by an attorney to make the most of this chance to save your home.

At James J. Quail & Associates, P.C., our Massapequa real estate foreclosure attorneys provide you with the knowledgeable representation that you need during your CPLR Rule 3408 Conference. Call us at 516.246.2449 to learn more.

How the CPLR Rule 3408 Can Help You

At a CPLR Rule 3408 Conference, your lender is required to send a representative authorized to deal with you on the issues of your foreclosure. The representative is required to bring documents relating to your loan including the exact pay-off amount.

As the property owner, you are required to bring the following to the conference:

  • Proof of income, including two recent pay stubs
  • Your income tax returns
  • Your property tax statements

This is a settlement conference run by a judge for the purpose of helping you avoid foreclosure. The lender is expected to negotiate in good faith and to be willing to discuss lowering your monthly payments and loan amount.

Massapequa Real Estate Foreclosure Lawyer

The legal team at James J. Quail & Associates, P.C. has represented many clients at CPLR Rule 3408 Conferences with successful results. Our Massapequa real estate foreclosure attorneys are skilled at helping clients negotiate a loan modification for lower payments and overall loan amount. When clients are unable to make modified loan payments, we work to protect them from deficiency judgments by working out a deed in lieu of foreclosure or short sale agreements with lenders.

Contact a Massapequa foreclosure lawyer at our firm for effective help at your CPLR Rule 3408 Conference. Schedule your free 30-minutes consultation today.

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