A Settlement Conference has been scheduled for my property, what does that mean?

A Settlement Conference has been scheduled for my property, what does that mean?


The State of New York set up a mediation program called the Foreclosure Settlement Conference in response to the foreclosure crisis. At the Settlement Conference homeowners at risk of foreclosure have an opportunity to meet with the lender’s attorney under court supervision. The goal of the Settlement Conference is to reach an agreement with the lender; in most instances to modify the mortgage and allow you to avoid foreclosure. Foreclosure proceedings are halted temporarily while the Foreclosure Settlement Conference is taking place. The bank attorney you meet at the Settlement Conference has authority to act, so it makes sense to speak to a Homeowner Advocate beforehand to find out all your options. If you reach a settlement with the bank, the case is over.


Speak directly with the Homeowner Advocate assigned to your property. Your Homeowner Advocate can get you access to critical resources and assistance including monetary and other options specific to your property. The program is privately funded and provided at no cost to participating New York Homeowners.

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