Get a highly converting sample letter to distressed homeowners that will help you buy their preforeclosure property. Learn about repossession laws from the NYC Bar Legal Referral Service.Find an attorney in New York. If you've stopped paying your creditors for unpaid debts, they will likely report your account as a charge-off after four to six months of non-payment. May include: A one-page foreclosure letter template designed for real estate agents. Voluntary repossession could be a way of dealing with financial distress. Read our article to learn what the pros and cons are. Complete this form and bring it with the license plates, if any, to any Motor Vehicles office. Your message was sent. We value your comments and suggestions.