Long Island, NY Foreclosure: Does the foreclosure stop if I apply for a mortgage modification?

It absolutely does NOT! I can't begin to count the number of times I've heard clients say to me that a bank representative told them that they don't need to worry or do anything until the bank makes a final decision regarding the loan modification. Well, yes you do need to do something about the New York foreclosure lawsuit which is separate and distinct from the mortgage loan modification--they are two different animals. If you don't do anything about the foreclosure lawsuit, you will be in default which makes it easy for the bank to foreclose on its mortgage. This is especially true if you are ultimately denied a mortgage modification or fail to make payments pursuant to a mortgage modification. Before you decide what action to take, consult with an experienced Long Island, NY foreclosure attorney.