Even though home foreclosures have dipped in 2011, this coming year foreclosures are predicted to increase and considering the condition of the current economic crisis and mortgage industry it could continue for the subsequent few years. Who dealt this mess anyway? That is a classic card player’s expression, but frequently most people could pull the old switcheroo and use it to the real estate foreclosure and banking conditions which are damaging countless individuals, particularly in Suffolk, Nassau, and Long Island in general. I have been an eviction attorney for years and I have seen it all.
Should you be having difficulties paying your home loan payments, or already are in foreclosure, perhaps you may feel nervous and humiliated or overwhelmed. It’s very important to act promptly. The more time you wait the fewer solutions you will have, including keeping your property or avoiding foreclosure. Fully understand your options and act accordingly.
Go to the State of New York banking department website. There you will find advice some good, some not. They will advise that you speak to your loan servicer immediately; your loan provider, your bank. And while that can be a good option later on, the most important thing you need to do is to talk to a non-profit property counselor. For anybody who is in Nassau County, speak to the Nassau County Bar Association; should you be in Suffolk County, speak to the Suffolk County Bar Association. They usually are happy to aid you.
Clearly you can speak to a professional foreclosure attorney in your neighborhood. An eviction law firm will be able to walk you through your rights and aid in making the very best decision for you and your family. With the laws constantly changing, it’s highly suggested to get the help of a lawyer if your claim goes to court.
Watch out for scams. Beware of anyone who asks for an upfront payment in exchange for getting you a mortgage loan modification, saving your home from defaulting or ceasing the foreclosure or tax sale. N.y. law prohibits, absolutely prohibits the collection of such charges in nearly all circumstances.
Avoid anyone who suggests they can rescue your house in the event you sign or transfer the deed to your residence over to them to help you catch up on your mortgage payments or refinance your mortgage loan. By no means hand in a mortgage payment to any individual but your bank or your bank’s loan servicer.
If you’re ever in foreclosure you have a few alternatives: give up or fight for it. I recommend the latter. The structure of foreclosure law in N.y., Long Island, Nassau County and Suffolk County is in a state of flux and evolves continuously.
No matter what phase of foreclosure you’re in or even if your home has already been purchased in foreclosure; and you are struggling with eviction, there are many alternatives open to you. There are many people who are in post-foreclosure landlord-tenant actions, to eliminate them from the property, that have successfully reopened the foreclosure and had the ability to, at the very least, reach an evidentiary hearing in the Supreme Court.
