Judgment of Foreclosure and Sale Form - New York State ... 2025

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The final judgment of foreclosure and sale is the legal document that appoints a referee to conduct the auction in a foreclosure action and allows the plaintiff lender to schedule the sale and advertise it with a notice of sale.
For Residential Cases. Lender must mail you information on getting help at least 90 days before starting a court case. Lender asks court for a judgment on default and to appoint a Referee to decide the amount you owe and write a report. Lender asks court to accept the Referees findings. Judge orders sale of your home.
Summary judgment is a judgment in favor of the foreclosing party (called the bank in this article) after a borrower formally responds to a foreclosure lawsuit, but the response doesnt raise any valid issues or defenses. Once the bank gets summary judgment, it can proceed with a foreclosure sale.
If the property is sold at a foreclosure auction, the proceeds from the sale go to the lender to recover the outstanding mortgage balance. If the sale price is less than what you owe, you may lose all your equity. Payments: Any payments youve made toward the mortgage are generally lost as well.
When a judgment lien is placed on the property you own, it acts as an assurance that youll pay the amount owed. Once a judgment lien is on your real estate, it typically remains until you decide to sell or refinance the property.
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What Is a Decree of Foreclosure and Sale? The term decree of foreclosure and sale refers to a legal announcement relating to the foreclosure of a debtors property, which is done to satisfy their outstanding debt. Decrees of foreclosure and sale normally involve real estate and mortgage loans.
Issued by a court, a decree of foreclosure and sale is a declaration that states the borrowers property will be sold to satisfy an outstanding debt that is in default. After the property is sold, the proceeds are used to pay off all or a portion of the debt.

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