Foreclosures Represent 12.5% of all Real Estate Sales on Long Island

In 2009, there were 2,836 foreclosure sales of homes on Long Island. This represented 10.7% of all sales of single-family homes on Long Island. In 2010, there were 2,571 homes sold related to foreclosure proceedings on Long Island. Even though the number of homes sold in foreclosure was less in 2010 than the prior year, the percentage of real estate transactions on Long Island related to foreclosure sales grew in 2010.

Foreclosure Home Sales Dominate the Real Estate Market in the U.S.

In 2010, 25% of all home sales throughout the United States were the result of foreclosure proceedings. It is anticipated that the percentage of home sales related to foreclosure proceedings will increase in the year 2011. It is expected that foreclosure sales will increase in 2011 because lenders are getting their act together with regard to providing their attorneys with the appropriate paper work to facilitate foreclosure proceedings through the courts.

John Fitzgerald, a real estate broker in Hauppauge, New York, whose business focuses on foreclosure transactions, stated that he has been told by lenders in New York to “get ready because there are properties coming” with regard to increased foreclosure activity on Long Island.

Foreclosure Defense on Long Island and the Five Boroughs of NYC

Should you find your house in foreclosure, we can help you. We’ll assist you in obtaining a mortgage modification. If you don’t qualify for a mortgage modification and you are sued in a foreclosure proceeding, we can represent you in court.

We will see to it that your rights are protected. We are experienced in dealing with mortgage modification programs that fail to provide the homeowner with the promised relief. We maintain a foreclosure blog to educate our clients and the general public with regard to the foreclosure crisis in the United States.

When foreclosure ensues, we attend foreclosure court conferences on behalf of our clients. We litigate defective foreclosure lawsuits, predatory lending issues, bad faith on behalf of financial institutions and defective mortgages.

Our law office has been handling real estate litigation for more than three decades. Should a Chapter 7 or Chapter 13 bankruptcy be appropriate to deal with your financial situation, we will discuss this issue with you and assist you in filing bankruptcy, if necessary. The filing of bankruptcy will stop foreclosure proceedings from moving forward and in some situations eliminate the security interest created by second mortgages. We can also assist you in reestablishing your credit after you have been discharged in bankruptcy.

Feel free to call us at your earliest convenience at 516-561-6645, 718-350-2802 or 1-800-344-6431. Our phones are monitored 24/7.

Valley Stream, Lynbrook, Baldwin, Malverne, Freeport, Oceanside, Long Beach, Elmont, Lakeview, West Hempstead, Hempstead, Merrick, Bellmore

We represent individuals throughout the New York Metropolitan area with divorce and child custody, personal injury, car accident, wrongful death, estate administration, nursing home and medicaid issues

The information you obtain at this website is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your particular legal issue. This is attorney advertising.

Copyright © 2017 By The Law Office Of Elliot Schlissel. All Rights Reserved. Concept, Design and Hosting by GetLegal Web Development Team.