Learn more about New York's repossession laws, what New York repo agents can and cannot do, and what happens after the car is taken away. 90 Day Pre-foreclosure Notice.Lender must mail you information on getting help at least 90 days before starting a court case. This Residential Foreclosure Actions Consumer Bill of Rights provides guidance to homeowners facing foreclosure in New York. Use the Worksheet for Foreclosures and Repossessions on page 13 of IRS Publication 4681 to compute the amount of any gain or loss to claim. In this 8step guide, we'll explain how to buy foreclosed homes in New York and help you decide if buying a foreclosed home is right for you. Contents. Foreclosure Settlement Conference Forms Forms. Seeing a Judge Request a Court Conference. Repossession and foreclosure are both processes that a creditor uses to reclaim property you put up as collateral for a loan, the procedures are different. ▫ Repossession of collateral.