New York is a judicial foreclosure state. Foreclosure is judicial and slow — commonly one to three years, among the longest in the country. Redemption is available until the foreclosure sale. Because a lender absorbs carrying cost and risk for that entire period, a cash note sale today often beats carrying the credit through foreclosure.
New York requires a court foreclosure action, with mandatory steps and often a crowded docket; commercial timelines frequently run well over a year. The long timeline makes the carrying cost of holding a New York credit especially high — and a cash sale today especially valuable.
Compare the foreclosure path to a cash sale with the loan-sale-vs-foreclosure calculator, using the timeline above.
A note sale transfers the loan to a buyer for cash, removing the timeline, the legal cost, and the risk of ending up as the owner of the property. Standing Bid Capital is a direct principal buyer of CRE loans, discounted payoffs, and REO — $250K–$25M, all-cash, no re-trade, confidential. Request a confidential review.
Foreclosure is judicial and slow — commonly one to three years, among the longest in the country. Timelines vary with the property, court or trustee schedule, and any borrower defenses; confirm with local counsel.
Yes — a note can be sold at any stage; the buyer steps into the lender's position and continues or resolves the process. Send the current legal status with the loan tape.
Standing Bid Capital buys nationwide, directly and all-cash, $250K–$25M. Request a confidential review.