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I'm behind on my mortgage in New York. Can I still sell my house?

Yes, in New York you can generally sell your house any time before the foreclosure auction, and the lender is paid from the sale proceeds at closing. We buy houses in pre-foreclosure.

How foreclosure works in New York

In New York, foreclosure is a court case.

  • The 90-day notice. If the mortgage is on the house or condo you live in, the lender must mail you a notice, generally at least 90 days before it sues. It lists at least five housing counseling agencies that serve your county.
  • The lawsuit. The lender sues, usually in New York State Supreme Court, and files a notice of pendency, or lis pendens, with the county clerk. It puts any buyer on notice of the case.
  • The settlement conference. If you live in the house and it's a one-to-four family home or a condo, the court generally must hold a settlement conference. Both sides must negotiate in good faith, for example about a loan modification or a short sale.
  • Judgment and auction. If the lender wins, a referee adds up what's owed, including interest, fees and costs. The judge can then order the house sold at a public auction.
  • Until the auction, you still own the house, and paying what's owed stops the sale.
  • Short sales. If you owe more than the house is worth, the lender can agree to take less. A second mortgage holder has to agree too. Each lender decides whether to approve and how long that takes. Court guidance says the agreement should waive any deficiency judgment for the balance.
  • Selling to a buyer like us has its own rules. If you live in a one-to-four family house and you're more than 60 days behind or in foreclosure, New York's Home Equity Theft Prevention Act generally covers the sale. You can cancel until midnight of the 14th business day after you sign, and Sundays and holidays don't count. Until then, the buyer can't take the deed or pay you. The contract's required notice advises you to find your own attorney, not one the buyer provides.

Free help exists: housing counselors approved by HUD or the state, and the Attorney General's Homeowner Protection Program. The 90-day notice warns about anyone who charges a fee for this help.

What we do differently

  • We buy as-is, in our own name, with our own funds, so there's no buyer's mortgage that can fall through. We don't assign your contract.
  • Written cash offer within 24 hours of the walkthrough, in person or by video.
  • No commission, no fees, and we pay the closing costs. No appraisal, inspection or financing contingency.
  • We close in as little as 7–14 days, or on the date you pick. If the Home Equity Theft Prevention Act covers your sale, the closing has to wait until your cancellation period is over.
  • We close through a local title company, and you're paid at closing with the net proceeds. We handle the clean-out.
  • We're the buyer, not your advisor, and we don't give legal advice. If we're not the right buyer, we'll refer you to someone who can help.

Common complications

  • An auction is already scheduled. You or your attorney can ask the court to stop the sale, for example because you've found a buyer with an offer. The judge decides.
  • Taxes. Debt a lender forgives in a short sale can count as taxable income, with some exceptions. Ask a tax professional.

Tell us about the house

Submit the form or call (516) 715-9020. We call you back within 24 hours.