New York Foreclosures - 29,167 Foreclosure Listings

Foreclosure Homes in New York

There are currently foreclosed homes listed in New York. Why should you consider buying a foreclosure property in New York? To save money, of course! That’s right, purchasing a foreclosed home can save you as much as 50 percent or more on the final sale price of a distressed deal in New York when compared to a traditional single-family house. We’ve also got awesome deals on top of incredible foreclosure deals, from rent-to-own homes, short sales and preforeclosures in New York, as well as bankruptcy filings and government-owned foreclosure listings such as HUD, Fannie Mae and Freddie Mac, among others. Just select the county in New York that you want to look for a property below. Then search through all distressed real estate listings in New York for the amazing deal that’s right for you.

New York Foreclosure Laws

New York relies heavily on judicial foreclosure, and every case must go before a judge. This makes the process one of the slowest in the country, often taking a long time to complete. Most loans are secured by mortgages. Deficiency judgments may be possible if the home sells for less than the loan balance.

Foreclosure Type Process

Judicial
Mortgage Instrument Security Type

Mortgage. Deeds of trust are not used.
Typical Timeline Duration

12-24+ months
Deficiency Judgment

Deficiency judgments permitted with fair value limitation
Redemption Period Owner Rights

No general redemption after sale.
Process Summary

New York is a judicial foreclosure state. Foreclosures involve court proceedings, settlement conferences, and a referee-conducted sale.
Notice / Timing Statute

New York Real Prop. Acts. Law § 1301 et seq. (judicial foreclosure process)
Redemption Statute(s)

New York Real Prop. Acts. Law § 1341 (no statutory post-sale redemption)
Deficiency Statute(s)

New York Real Prop. Acts. Law § 1371 (deficiency limited to debt minus fair value)

How to Buy a Foreclosure in New York

In New York, identify foreclosure opportunities through county clerk auctions, MLS, and legal notices. New York foreclosures are judicial; be aware of redemption periods. Secure your financing prior to sale. Perform title and condition due diligence. Attend the court auction and complete transfer requirements.

What type of foreclosure is used in New York?

The type of foreclosure in New York is Judicial

Is there a redemption period in New York?

No general redemption after sale.

Are deficiency judgments allowed in New York?

Deficiency judgments permitted with fair value limitation in New York

How do you buy a foreclosure in New York?

In New York, identify foreclosure opportunities through county clerk auctions, MLS, and legal notices.