The NY foreclosure process typically takes:
Question & Answer
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60-90 days
60-90 days is far too short for NY's foreclosure process. This timeline might apply to non-judicial foreclosure states or other aspects of real estate transactions, but doesn't account for the mandatory court proceedings in NY's judicial foreclosure system.
6-12 months
6-12 months is still too brief for NY foreclosures. While some states might have timelines in this range, NY's judicial process consistently takes longer due to court backlogs, legal requirements, and borrower protections that extend the timeline well beyond a year.
1-3 years or longer
30 days
30 days is unrealistically short for any foreclosure process, especially in NY. This might represent the notice period before initiating foreclosure in some states, but not the total time required to complete the foreclosure process in New York.
Why is this correct?
NY requires judicial foreclosures, which involve court proceedings, making the process lengthy. The timeline of 1-3 years or longer accounts for the lawsuit filing, court scheduling, potential redemption periods, and possible borrower appeals that extend the process beyond what occurs in non-judicial foreclosure states.
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