Start by calling your loan servicer early. Missed payments don't have to end in foreclosure, and the sooner you act, the more options you have, including repayment plans, loan modification, selling the house, or a short sale.
General information only, not legal advice. For advice about your situation, talk to a licensed New York attorney or a HUD-approved housing counselor.
A cash buyer can often close faster than a typical listing. Compare the offer with listing the house, and ask for terms in writing. Know what you owe: request a payoff statement from your lender.
See our foreclosure timeline guide. New York's process has required steps and protections.
HUD-approved counselors, the state's Homeowner Protection Program, and legal aid organizations offer free help to eligible homeowners.
How many payments can I miss before foreclosure?
It depends on the loan and lender. Servicers have rules about when they can start the process, so check your notices.
Will selling hurt my credit?
A regular sale that pays the loan doesn't hurt your credit. Missed payments before it do.
Can I sell if I owe more than the house is worth?
A short sale may be possible with the lender's approval.
What is a payoff statement?
A letter from your lender showing the exact amount needed to pay off the loan on a given date.
Use the button at the top of this page to start. It takes about a minute, there is nothing to sign to get an offer, and you can always compare it with listing or with other buyers.
The Key Buyers · 194 Jericho Tpke, Floral Park, NY 11001 · 516-366-2592. This page is general information, not legal or tax advice, and rules change. Every situation is different. Last updated: October 2026.