90-Day Pre-Foreclosure is required to be sent to you under New York State law. The bank must wait at least 90 days from sending this letter before they begin a foreclosure action against you. This 90-day window gives you the opportunity to try to work with the Bank to find an alternative to foreclosure.
The timing of when you will receive a 90-Day Pre-Foreclosure Notice varies from case to case, but typically if you fall 30 or more days behind you will likely receive this letter.
If you have recently received this letter, we strongly urge you to do one of the two things:
To find a counselor near you, visit this website: Consumer Financial Protection Bureau
Tips for protecting yourself from scams: http://www.ag.ny.gov/consumer-frauds/help-homeowners