LAW OFFICES OF DEUTSCH & SCHNEIDER

REAL PROPERTY TIMETABLE

The following timetable is representative of the average processing time for the handling of a default Foreclosure in the State of New York. Slight procedural differences between various counties in New York are deemed not meaningful and are, therefore, not shown. However, certain counties are able to process foreclosure cases more quickly than others and this must be taken into account.

It must be understood that court delays can be encountered even in an uncontested Foreclosure. Of course, the timetable does not reflect delays caused by the filing of a Bankruptcy, or due to the Foreclosure being contested.

UNCONTESTED NEW YORK FORECLOSURES

FLOW CHART

(A)

Day 1:

Order mortgage foreclosure search, open file, review instructions; enter into computer and give file number.

Day 15-20:

Review search. Prepare and file Summons, Complaint and Lis Pendens. Send out for service.

Day 20-60:

Receipt of Answers, if any.

Day 60-90:

Review file to see if all services have been made. Submit Publication Order and Order appointing Guardian ad Litem and Military Attorney, if necessary, to the Court for signature.

If publication is unnecessary, diary for 21 days after last service for the appointment of a Referee to Compute, if personal service has been made; and 30 days after the filing of the affidavits of substituted service with the County Clerk.

Day 90-100:

If no one answers, submit ex-parte application to the Court for the appointment of a Referee to compute; and at the same time, forward affidavit of substituted service with the County Clerk.

Day 100-120:

If Order appointing Referee to Compute has been signed, and completed affidavit of the amount due is received from your office, prepare Referee's Report of Computation, and mail to Referee for examination and signature.

Day 120-145:

On receipt of properly executed Referee's Report, ex-parte Judgment prepared and, if necessary, military affidavits requested from the Process Server. If military affidavits are not required, Judgment can be submitted immediately, and if military affidavits are required, they must be obtained from the Process Server, prior to the submission of the Judgment.

Day 145-180:

Upon Judgment being entered, Sale is arranged. Property must be advertised for sale for three (3) successive weeks, and is sold the fourth week. The date of sale is arranged with the Referee, who has been appointed by the Court, and who conducts the Foreclosure Sale and conveys title.

Day 180:

Sale held. If no Third Party Bidder, and the property is vacant, title can immediately be conveyed to HUD, VA, or other designated Grantee, and title policy requested. If property is sold to third party, Terms of Sale signed by the Referee provides closing within thirty (30) days after Sale, or at such reasonable time thereafter. Upon Closing, bill submitted for balance of fee and disbursements, and if Third Party Sale, copy of Report of Sale furnished with breakdown of amounts disbursed.

AFTER SALE, IF EVICTION IS REQUIRED

Day 1 - 10:

Preparation of 10 Day Notice to Vacate, and forwarding to Process Server for personal service.

Day 11 - 20

Receipt of Ten (10) day Notice to Vacate and service by process server.

Day 20 - 30

Ten Day Notice period running.

Day 30 - 35

Preparation of motion for Order of Possession and forwarding to process server for personal service.

Day 35 - 40

Securing of motion return date with Court and placing motion on Court calendar and effectuating personal service of motion for Order of Possession on occupants.

Day 40 - 50

Awaiting decision on motion.

Day 50 - 55

Preparation of Order of Possession with Notice of Settlement.

Day 55 - 60

Submission of Order of Possession to Court for signature.

Day 60 - 70

Awaiting certified copy of signed Order of Possession.

Day 70 - 75

Sending of Certified Order to Sheriff and/or Marshall and scheduling eviction date after receipt of requisite funds from client and forwarding on to Sheriff.

(B)

Original Bond or Note, original Mortgage and original Assignments of Mortgage are required at the commencement of this action. If original Bond or Note is lost, or misplaced, a lost Note or bond

affidavit must be prepared. If the Mortgage or Assignments cannot be located, certified copies of these documents can be obtained from the County Clerk in the County in which the property is located.

(C)

If a loan in Foreclosure is transferred during the pendency of the foreclosure action, then all that is to be done is for an application to be made to the Court to amend all the pleadings to reflect the fact that there is a new plaintiff. All Assignments of Mortgage must be recorded.