Legal Question in Bankruptcy in New York

Home Foreclosure: Notice of Appearance

I am going through a foreclosure of my home and am looking to keep the home. Our situation has not been good due to unemployment for the past 5 months. However our outlook for the future is good. I am close to employment and my wife was just approved for a state registered child care facility in our home (our original plan). We are 4 months behind payment and were just served papers to respond to. We are about to sign an agreement with the mortgage company but it may prove too agressive for us. We were advised to file a ''Notice of Appearance'' an we could avoid payments for a few months until we are on our feet again (our planned inclome is enough to support the cost ot the home).

Can you advise us what this ''Notice of Appeatrance'' is all about?


Asked on 11/22/06, 8:54 am

1 Answer from Attorneys
Jay Fleischman Shaev & Fleischman LLP

Re: Home Foreclosure: Notice of Appearance

First, you should not sign any documents without having them reviewed by a lawyer who understands mortgage foreclosures.

Second, if you're looking to save the house you have a number of options. You may look into a forbearance, loan restructuring, refinance, or Chapter 13 to allow you to cure the arrears over time.

Finally, a "Notice of Appearance" does nothing more than put the court and the bank on notice that you want copies of all court papers sent to you. It doesn't do anything else.

If you're interested in a review of your situation to see if Chapter 13 would be a good option, you may set up a Free Office Consultation by going to our web site at www.drlcny.com and click "Schedule An Office Consultation" at the top.

Legal fees are based upon the complexity of your case, and payment plans are available. You do not need to bring any money to the office for your consultation.

My office is located at 15 Maiden Lane, Suite 2000 (20th Floor), New York, New York 10038. The office is easily accessible from following trains: 2, 3, 4, 5, J, M and Z trains at Fulton Street (Manhattan); A and C trains at Broadway-Nassau; and N, R, and W trains at Cortlandt Street.

Jay S. Fleischman, Esq.

FleischmanLaw, P.C.

15 Maiden Lane, Suite 2000

New York NY 10038

www.drlcny.com

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Answered on 11/22/06, 11:31 am


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