Facing Pre-Foreclosure on Long Island? Here Are Your Options
Falling behind on mortgage payments is terrifying — but pre-foreclosure is not the end of the road. New York's foreclosure process moves slowly, which means Long Island homeowners in distress often have more time to act than they realize. The Property Father helps homeowners facing pre-foreclosure sell fast for cash, pay off the mortgage, and walk away with their dignity and credit score intact.
Pre-foreclosure is when you've received a notice of default or lis pendens but the bank hasn't taken the property yet. You still own it and can sell it. New York is a judicial foreclosure state, meaning the bank must file a lawsuit — the process typically takes 18 to 36 months from the first missed payment to auction.
When you sell during pre-foreclosure, the proceeds pay off the mortgage balance at closing. Any remaining equity goes to you. The foreclosure process stops immediately. A foreclosure stays on your credit for 7 years, but selling before completion reports as a standard sale — far less damaging.
Cash buyers are the fastest solution because there's no bank approval needed, no financing contingencies, and we can close before your auction date. We've helped many Long Island homeowners avoid foreclosure and protect their financial future.
Frequently Asked Questions
Can I sell my house if I've already received a lis pendens in New York?
Yes. A lis pendens is a public notice that a lawsuit has been filed — it does not transfer ownership. You can still sell the property as long as you own it. The proceeds from the sale pay off the mortgage and any lis pendens is removed at closing.
What if I owe more than the house is worth?
If you're underwater on the mortgage, we can discuss a short sale where the bank agrees to accept less than the full balance owed. This requires bank approval but is still far better than foreclosure on your credit report.
How quickly do you need to move?
We can close in as few as 7 days. If you have a foreclosure auction date, tell us immediately and we'll prioritize your timeline.
Do I need to be current on payments to sell?
No. We buy houses from homeowners in all stages of the pre-foreclosure process — whether you're 30 days behind or received a foreclosure filing.
Service Areas
Phone: (516) 548-6558 | Email: info@thepropertyfather.com
The Property Father LLC — 100 Washington Ave, Patchogue, NY 11772