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BillyBob11706

When do they list a foreclosure in the newspaper legal notices?

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Around March 2009 Wells Fargo started a foreclosure process. This is in Suffolk County New York. The case finally ended in May 2016. Of course Wells Fargo won since my friend never retained a lawyer and never showed up to the settlement conference or any other proceeding.

 

I told my friend that sooner or later he will see his name in the legal section of the local newspaper for the auctioning off of his house. His new game plan is to rent out part of his house for $1,500 a month and then send the money to the bank.

 

His house is probably worth close to $200,000. and he owes approx $100k. He said that the bank will take off a lot of late fees etc I told him that I THINK that he waited too long. The case has been decided in Suffolk County Supreme Court and he lost. There are a lot of foreclosures in his area but his house is in great condition. I suggested that he sells it for around $175k and start over. He didn't like that idea.

 

For whatever reason the foreclosure process in New York takes a very long time. I can't believe that he is still in the house after 7 1/2 years. On the Supreme Court website it says that the case has been disposed (which means has been decided)... Now that it is over how long does it take for the sale date to be set and then placed in the newspaper? Is there anyone out there who is familiar with the time process in Long Island New York? I told my friend in May that he should start packing up and to expect to see the legal notice in the newspaper within 60 days. It's now almost 120 days later and nothing has appeared nor has he gotten any legal notices.

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New York is a very long foreclosure state due to the rules there (they require remediation attempts, etc.). I don't know where they publish them there but it might be in a separate legal newspaper not your normal NYT etc. They usually post them in the news paper for about 4-6 weeks and then it should go to sale but its odd he hasn't received anything.

 

They (or at least most banks not 100% sure about WF) won't take payments other than a full reinstatement or payoff at this point. Any funds he sends in less than that will be returned to him.

Edited by tiggerlgh

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