If you have successfully worked out a deal with the Bank in the Settlement Conference, the foreclosure proceeding will be discontinued.
The Bank should file a “Stipulation of Discontinuance”, which is a document that tells the Court that the Bank is no longer pursuing a foreclosure. In addition, the Bank will file a “Cancellation of the Lis Pendens”, which ensures that the land records with the local County Clerk accurately reflect that the foreclosure proceeding is over.