New York Sample Letter to Foreclosure Attorney - General Demand to Stop Foreclosure and Reasons

• Category: Letters - Legal - Foreclosures
• State: Multi-State
• Control #: US-0513LTR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Foreclosure Attorney's Name] [Law Firm Name] [Attorney's Address] [City, State, ZIP] Subject: General Demand to Stop Foreclosure and Reasons Dear [Foreclosure Attorney’s Name], I hope this letter finds you well. I am writing to officially request your immediate attention and action regarding the foreclosure proceedings on my property. As the homeowner facing imminent foreclosure, I believe it is crucial to bring to your attention the following important reasons why the foreclosure should be ceased. 1. Financial Hardship: Due to unforeseen circumstances, such as loss of employment, medical emergencies, or other significant financial burdens, I have experienced an unfortunate decline in income, making it extremely challenging for me to meet my monthly mortgage obligations. This financial hardship has led to the inability to make timely payments, resulting in the foreclosure proceedings initiated against my property. 2. Communication Issues and Lack of Alternatives: Throughout this process, I have faced difficulties in establishing clear channels of communication with the mortgage lender or the loan servicing company. Despite my persistent efforts to explore alternative options such as loan modification, forbearance, or repayment plans, I have not received appropriate guidance or assistance from the lender. This lack of communication and absence of viable alternatives have contributed to the current predicament. 3. Loss Mitigation Opportunities: Under the New York foreclosure laws and regulations, there may be various loss mitigation opportunities available to homeowners that should be explored before proceeding with foreclosure. These options may include mediation, loan restructuring, principal reduction, or the Home Affordable Modification Program (CAMP). I earnestly request the opportunity to explore these alternatives with your assistance to enable me to retain ownership of my property and mitigate the foreclosure impact. 4. Appraisal and Market Evaluation: Considering the present real estate market conditions, it would be prudent to evaluate the property's current value through an independent appraisal. This assessment would ensure the foreclosure process is fair and accurate with respect to the property's actual worth, avoiding any potential discrepancies or overestimation. Regarding the information provided above, I kindly request that you pause or halt the foreclosure proceedings. This will allow both parties to engage in meaningful negotiations and exploration of alternative solutions. I believe that a resolution can be reached which benefits both the lender and me. I would appreciate it if you acknowledge receipt of this letter within no more than 10 business days from its delivery. Furthermore, I am available at your convenience to discuss further details or provide any additional documentation or information you may require. Your prompt attention and response to this matter are greatly appreciated. I sincerely hope that we can work together towards a mutually beneficial resolution that avoids foreclosure and preserves my property. Thank you for your understanding and cooperation. Sincerely, [Your Name]

[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Foreclosure Attorney's Name] [Law Firm Name] [Attorney's Address] [City, State, ZIP] Subject: General Demand to Stop Foreclosure and Reasons Dear [Foreclosure Attorney’s Name], I hope this letter finds you well. I am writing to officially request your immediate attention and action regarding the foreclosure proceedings on my property. As the homeowner facing imminent foreclosure, I believe it is crucial to bring to your attention the following important reasons why the foreclosure should be ceased. 1. Financial Hardship: Due to unforeseen circumstances, such as loss of employment, medical emergencies, or other significant financial burdens, I have experienced an unfortunate decline in income, making it extremely challenging for me to meet my monthly mortgage obligations. This financial hardship has led to the inability to make timely payments, resulting in the foreclosure proceedings initiated against my property. 2. Communication Issues and Lack of Alternatives: Throughout this process, I have faced difficulties in establishing clear channels of communication with the mortgage lender or the loan servicing company. Despite my persistent efforts to explore alternative options such as loan modification, forbearance, or repayment plans, I have not received appropriate guidance or assistance from the lender. This lack of communication and absence of viable alternatives have contributed to the current predicament. 3. Loss Mitigation Opportunities: Under the New York foreclosure laws and regulations, there may be various loss mitigation opportunities available to homeowners that should be explored before proceeding with foreclosure. These options may include mediation, loan restructuring, principal reduction, or the Home Affordable Modification Program (CAMP). I earnestly request the opportunity to explore these alternatives with your assistance to enable me to retain ownership of my property and mitigate the foreclosure impact. 4. Appraisal and Market Evaluation: Considering the present real estate market conditions, it would be prudent to evaluate the property's current value through an independent appraisal. This assessment would ensure the foreclosure process is fair and accurate with respect to the property's actual worth, avoiding any potential discrepancies or overestimation. Regarding the information provided above, I kindly request that you pause or halt the foreclosure proceedings. This will allow both parties to engage in meaningful negotiations and exploration of alternative solutions. I believe that a resolution can be reached which benefits both the lender and me. I would appreciate it if you acknowledge receipt of this letter within no more than 10 business days from its delivery. Furthermore, I am available at your convenience to discuss further details or provide any additional documentation or information you may require. Your prompt attention and response to this matter are greatly appreciated. I sincerely hope that we can work together towards a mutually beneficial resolution that avoids foreclosure and preserves my property. Thank you for your understanding and cooperation. Sincerely, [Your Name]