Foreclosure FAQ

Yes. Abraxas Foundation Inc is a nonprofit. We never charge homeowners a fee for foreclosure guidance, short sale help, or legal referrals, now or later. New York law bans most upfront fees for foreclosure help, so be careful with anyone who asks you to pay first.

New York uses judicial foreclosure, which means your lender has to file a lawsuit in court to take your home. Before filing, lenders generally must send a 90-day pre-foreclosure notice. Once a case is filed, most owner-occupied homes get a court-supervised settlement conference where you can negotiate with your lender. The process often takes a year or more, which gives you time to act if you start early.

It is a mandatory meeting, supervised by the court, between you and your lender after a foreclosure case is filed on most owner-occupied homes. It is your chance to discuss a loan modification, repayment plan, short sale, or other solution. We can help you prepare and connect you with a free attorney or housing counselor to attend with you. Read our settlement conference guide.

Often, yes, as long as the auction has not happened yet. Options can include a loan modification, a bankruptcy filing, a motion in court, or an approved short sale. Time matters, so call us right away at (929) 346-5734 if you have an auction date.

A short sale is when your lender agrees to let you sell your home for less than you owe on the mortgage. It can help you avoid a foreclosure on your record and leave on your own terms. We work directly with your bank on the short sale, and we do not buy homes.

Homeowners in our short sale program can apply for a relocation grant to help cover moving costs, a security deposit, or temporary housing so you can start over. It is a grant, not a loan, so you do not pay it back. Learn about the relocation grant.

We do not have a walk-in office. Our team meets homeowners at their homes, and we can also help by phone. Call (929) 346-5734 to set up a free consultation.

We help homeowners across New York State, including all five boroughs of New York City.

Helpful documents include your most recent mortgage statement, any letters or court papers from your lender, proof of income, recent bank statements, and a short explanation of your hardship. Do not worry if you do not have everything. We will tell you exactly what is needed.