The bank retains a law firm that drafts a Summons and Complaint. The Summons and Complaint is filed with the County Clerk’s Office of the County in which the home is located. The filing of these papers gives the Summons and Complaint an Index Number. This Index Number is a tracking device for the case going through the Courts. Simultaneously with filing this Summons and Complaint, the attorneys for the financial institution file a Lis Pendens. This advises other people that there is a Court case against the property. This has a negative impact on the title to the home.

The Answer

If you wish to defend yourself in a foreclosure lawsuit after being served with a Summons and Complaint, you submit a written Answer. This Answer can include defenses, affirmative defenses and counter law suits. If you do not file an Answer to the Summons and Complaint, it is considered that you defaulted and that you are not challenging the foreclosure. This can result in your your home much faster.

Settlement Conference

There is a mandatory Foreclosure Settlement Conference that is required in all foreclosure lawsuits. At a settlement conference you can discuss mortgage modifications and other issues. If you do not attend the settlement conference, the Court can allow the case to move forward without your participation.

Discovery

Discovery is a process where each of the parties to a lawsuit can obtain information from the other party. The information used can be considered evidence which can be used by each of the parties during motion practice or at a trial, either for prosecution or by the defense.

Foreclosure Judgment

A financial institution can obtain a judgment on default if the homeowner does not submit a written Answer to the Summons and Complaint.

The law firm of Schlissel DeCorpo LLP has been helping families deal with mortgage and foreclosure problems for more than 30 years. We can be reached at 718-350-2802, 516-561-6645 or 631-319-8262 or by e-mail at [email protected].