The ownership of a single-family home is often referred to as the American Dream. The home will usually be a family’s largest asset. In a foreclosure lawsuit homeowners are in serious risk of losing their largest asset, and being forced into finding another place to live. No matter how many payments the homeowner has missed, there are solutions to the homeowner’s problem other than losing their home in a foreclosure lawsuit. Homeowners have rights in the State of New York. Retaining of a foreclosure lawyer is often the best first step if the homeowner wishes to save their home.
Foreclosure defense attorneys can advise the homeowners of various strategies and methods to save their home. There are legal strategies that exist in the State of New York to stop foreclosures from going forward and saving homes.
Options to Avoid Foreclosure Sales
Homeowners can apply for a loan modification. They can bring an action to dismiss the foreclosure. They can enter into short sales. They can execute deeds in lieu of foreclosure. They can file Chapter 7 or Chapter 13 bankruptcies in Federal Courts.
Bank Mistakes
In some situations banks or their employees have made mistakes, engaged in unethical activities, have been involved in robo signing of documents or they lack standing to actually bring the foreclosure case. Standing refers to whether the bank bringing the foreclosure action actually is the appropriate party to engage in the foreclosure process against the homeowner.
The law firm of Schlissel DeCorpo LLP has been helping families deal with mortgage and foreclosure problems for more than 30 years. We can be reached at 718-350-2802, 516-561-6645 or 631-319-8262 or by e-mail at info@sdnylaw.com.
