If you are having a difficult time making payments on your mortgage, you might believe that a foreclosure on your home is an impending matter with no other recourse. However, foreclosure is not the only answer. There are solutions that can stop a foreclosure and keep you in your home. If you are having trouble with your mortgage and fear a looming foreclosure, it is advised to talk to a foreclosure defense attorney in New York, NY who is experienced in foreclosure defense law to discuss your options.
A forbearance agreement is an option in which the lender or owner of the mortgage agrees to reduce or suspend mortgage payments for a period of time. In other words, a forbearance agreement provides short-term relief to homeowners. If the lender agrees to a forbearance agreement, a foreclosure will not be introduced.
Once the forbearance period ends, the homeowners under the agreement must continue to make payments in full. They will also most likely need to become current on the missed payments that accrued while on forbearance. It is important to note that forbearance agreements will vary among lenders. Therefore, it is essential to consult with a foreclosure defense attorney in Staten Island, NY who understands how forbearance agreements work. An attorney who is knowledgeable in foreclosure defense law can work with you and your lender to develop a favorable agreement.
A repayment plan is a viable option if you have fallen behind on your mortgage payments because of a hardship such as a job loss or a medical issue. A repayment plan allows a homeowner to repay past due amounts over a certain period of time, which is agreed upon with the lender.
Repayment plans, similar to a forbearance agreement, are a short-term answer. A lender may agree on a plan with a repayment period between three to six months. However, some repayment plans could be longer depending on the lender and the terms. An expert foreclosure defense attorney in New York, NY can assess your specific situation and determine whether a repayment plan is a suitable solution.
Deed In Lieu Of Foreclosure
A deed in lieu of foreclosure is a drastic step, but it avoids foreclosure. When a homeowner wants to be relieved of their mortgage debt but wants to avoid foreclosure, a deed in lieu of foreclosure is a potential option. With a deed in lieu of foreclosure, the homeowner basically surrenders their deed to their house to the lender. In exchange, the lender relieves them from their mortgage obligation.
In order for the deed in lieu of foreclosure to work, both the lender and homeowner must agree to its terms. The process is less public than a foreclosure. It allows the homeowners to keep their matter private. Also, it is much quicker and less costly than a foreclosure.
If you are interested in options that do not involve foreclosure, it is highly recommended that you seek a professional foreclosure defense attorney in Staten Island, NY who can provide you with the best solution for your circumstances.
Your Home Is Where Your Family Makes A Life Together. Don’t Lose It!
Subprime mortgage crisis, it’s the gift that keeps on giving—unfortunately. The miserable milieu that birthed 2007’s banking crisis, 2008’s financial crisis, and combined to create the worst recession since the Great Depression, left a lot of people in a bad situation, and countless Americans lost their homes. Ten years later, many Americans still face mortgage problems, unexpected hardships, and more, all of which can lead to the loss of their precious physical possession—their home.
There is hope, however. Foreclosure is a troubling word, indeed, unless you’re running a predatory lending bank, but for most of us, the word brings a chill. No one wants to lose their home. You’ve worked hard. You saved your money to get to that down payment. And the last thing you want is to see your hard work be sold off to the highest bidder in a foreclosure sale. This would bring you great pain, and it would bring us pain as well, that’s why we specialize in keeping people in their homes. As a top Staten Island foreclosure defense attorney, we understand the process; we know the tricks of the trade, and we know how to win. For many years we have been going to bat for homeowners, defending them and their interests, and keeping them snug and secure in the home that they worked so hard to purchase.
As experienced Staten Island foreclosure defense attorneys, we will work every angle to keep you in your home, but if that is simply not an option then we’ll work to get you the best deal possible or get you out with the least pain possible. We’re savvy and seasoned, and many times we are able to win dismissals of foreclosure actions, or successfully negotiate loan modifications, whatever it takes. And if you simply cannot climb out of your financial situation then you’re in good hands with us in that regard as well. We are masters of the methods and are experienced in forbearance agreements, deeds-in-lieu of foreclosure, voluntary foreclosures, short sales and cash for keys.
When you work with The Law Offices of Robert E. Brown, P.C., you can rest assured that whatever is legally possible, we’ll make happen for you. There’s a reason why people hire us once and keep us for life, bringing us in to help them with literally every legal problem or situation they have in their lives. The reason—we get results, and our track record shows it. If you’re in Staten Island or anywhere in the greater New York area, let us hear from you. You might think your situation is dire, but I promise you we’ve seen worse. We’re here to help. There’s nothing we love more than keeping families in their homes. Call us today.
Robert E. Brown, P.C. is a leading Foreclosure Defense law firm. We specialize in loan modifications, defending mortgage foreclosure actions, suits to enforce second mortgage notes and credit card lawsuits.
As a result of the rampant predatory lending practices by some financial institutions, Robert E. Brown, P.C. has successfully defended numerous foreclosure proceedings. The result often varies based on the homeowner’s goals. Many times, we have won outright dismissals of foreclosure actions. In addition, our extensive knowledge and expertise in this area has allowed us to successfully negotiate loan modifications, forbearance agreements, deeds-in-lieu of foreclosure, voluntary foreclosures, short sales and cash for keys.
Homeowners who are delinquent in mortgage loan payments to their banks and have been served with a foreclosure summons and complaint have a very short time to respond — often as little as twenty (20) days. If a homeowner ignores the foreclosure lawsuit, the bank will ultimately be able to sell the house. However, even if a homeowner is beyond the time limit to answer, we can still help.
- What Has Your Experience Been Working As A Foreclosure Defense Attorney?
- What Exactly Does It Mean To Be In Foreclosure?
- In The Pre-Foreclosure Timeframe Is It Possible To Save My Home?
- What Is Loan Modification? Can I Do This On My Own?
- Is Bankruptcy A Viable Option In Order To Avoid Foreclosure?
- Can I Stop A Foreclosure Once It Has Begun In New York?
- How Long Does A Foreclosure Stay On Your Credit Report?
- Does New York State Have The Right Of Redemption After Foreclosure?
- At What Point Should I Hire A Foreclosure Defense Attorney?
- What Are The Pitfalls Associated With Handling A Foreclosure On Your Own?
- What Happens When I Start To Miss My Mortgage Payments?
- Will The Bank Be Lenient If I Missed Mortgage Payments Due To Illness, Death Or Unemployment?
- Can I Save My Home Once Foreclosure Proceedings Have Begun?
- Should I Work With A Debt Management Company Before Hiring A Lawyer?
- At What Point Should I Get An Attorney Involved In My Foreclosure Situation?
- How Do I Apply For A Loan Modification? Do I Need An Attorney?
- Do I Need Good Credit To Qualify For A Loan Modification?
Even if you are in default in a foreclosure action brought against you, it is possible to vacate the default if you act promptly, have a reasonable excuse for not answering and a meritorious defense.
We have frequently stopped foreclosure sales at the last possible minute by bringing an emergency request. On several occasions, we have even voided foreclosure sales after the sale occurred.
Generally speaking, our clients can expect to remain in their homes for years after they are served with a foreclosure action if they defend properly.
The actual time will vary from case to case.
Squatter Nation: 5 years with no mortgage payment
The firm is very experienced in making motions to vacate defaults and default judgments, and if you are in this position you should contact us right away.
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