Understanding the Foreclosure Timeline in New York: Key Deadlines & What to Do

How Long Does Foreclosure Take in New York in 2025?

New York has one of the longest foreclosure processes in the country, with cases often lasting over 445 days from the first missed payment to the final sale. Since foreclosures in New York are judicial, lenders must go through the court system, making the process complex and time-consuming.

If you are facing foreclosure in New York, understanding this timeline is critical. Knowing the key deadlines can help you take action before it’s too late. Below, we break down the entire foreclosure process step by step, from missed payments to the final auction.

1. Missed Mortgage Payments
(Day 1-90)

The foreclosure process begins when a homeowner misses their first mortgage payment.
Most lenders offer a grace period (usually 15 days) before charging a late fee.
By Day 30, if the payment is still unpaid, the lender may report it to credit bureaus, affecting your credit score.

2. Pre-Foreclosure Notice (Day 90-120)

Under New York law, lenders must send a 90-day pre-foreclosure notice before filing a foreclosure lawsuit.
This notice includes a warning that foreclosure proceedings will begin unless you take action.
This is a critical period where homeowners can explore options like loan modification, reinstatement, or selling the home before foreclosure.

3. Foreclosure Lawsuit Filed (Day 120-150)

If no resolution is reached, the lender files a Summons and Complaint in court, officially starting the foreclosure lawsuit.
You will receive legal documents outlining the lender’s claims and the amount owed.

4. Homeowner’s Response (Day 150-180)

You have 20 days to respond if served in person or 30 days if served by mail.
If you don’t respond, the lender can request a default judgment, moving the process forward quickly.
If you respond, the case proceeds to a mandatory settlement conference.

5. Settlement Conference (Day 180-240)

New York requires a mandatory settlement conference within 60 days of the lawsuit being filed.
This is an opportunity to negotiate a loan modification or repayment plan with the lender.
If a resolution is reached, the foreclosure may be stopped.

6. Court Proceedings & Judgment
(Day 240-365+)

If no agreement is made, the case moves to trial.
The lender may file a motion for summary judgment, asking the court to rule in their favor without a trial.
If granted, the court issues a Judgment of Foreclosure and Sale.

7. Foreclosure Auction (Day 365-445+)

After the judgment, the lender schedules a foreclosure auction.
The property is sold to the highest bidder, typically within 28-35 days after public notice is posted.
If you still occupy the property, an eviction notice may be issued.

How to Stop Foreclosure in New York

If you’re facing foreclosure, you still have options to stop the process and save your home:

Loan Modification – Renegotiate your loan terms to make payments more affordable.
Reinstatement – Pay all missed payments, fees, and penalties to bring the loan current.
Selling Your Home Before Foreclosure – Avoid foreclosure and protect your credit by selling before the auction.
Filing for Bankruptcy – This can temporarily halt foreclosure and provide time to find a solution.

Next Steps: Learn More About Stopping Foreclosure in New York

Understanding the timeline is just the first step. If you want to explore more ways to stop foreclosure, check out our in-depth guide: 5 Proven Ways to Stop Foreclosure in New York & Keep Your Home.

Final Thoughts

Foreclosure in New York is a long, complex process, but knowing the timeline gives you the power to take action. If you’re struggling with payments or already in foreclosure, don’t wait—explore your options before it’s too late.

Need help? Contact us today to discuss your situation and find the best solution for your home.