Foreclosure Strategies
May 10 2018
The best way to deal with a foreclosure is to take aggressive legal action when the foreclosure laws... [Read More...]
June 2, 2011 By
Foreclosure Proceedings Taking Longer
Each foreclosure proceeding in New York initiated during the first quarter of 2010 took more than 400 days from inception to completion. This is an increase of 60 days from the 340 days this process had taken in 2009. In 2007, it took approximately 150 days to move forward, from start to finish, with a foreclosure proceeding. As the number of foreclosure proceedings has dramatically increased in New York, the time for these proceedings to make their way through the courts has been increasing. It is estimated that new foreclosure proceedings could take as long as 2 ½ years to be concluded.
Home Prices Falling
Home prices are still falling through most of the country. In April of 2011, home prices fell below the March 2009 levels. This is the lowest point home prices have been in the past two years. Unfortunately, real estate experts do not feel the downward trend in home values will be ending in the near future.
Conclusion
The real estate market in the United States is in a sad state of affairs. Unless the real estate market comes back, the economy in the United States will continue to suffer.
The Law Offices of Schlissel DeCorpo provides foreclosure defense for clients in the Metropolitan New York area. We attend foreclosure court conferences for our clients. We litigate defective mortgages, predatory lending and defective foreclosure lawsuits. We deal with all types of foreclosure and estate problems. We educate our clients concerning foreclosure related bankruptcy proceedings, including Chapter 7 or Chapter 13 bankruptcy filings.
We advise and assist our clients concerning mortgage modifications and how to deal with mortgage modification programs that fail to meet the needs of the public. We can provide you with free initial interview and we will discuss all of your foreclosure options and how to stop foreclosures from moving forward. Thank you for visiting our foreclosure blog.