The value of homes throughout the country has gone down. Many Americans live in homes that worth less then the amount of their mortgages. The high unemployment rate and the downsizing of jobs by many employers have robbed homeowners of the ability to make their mortgage payments.
Foreclosure on Long Island
Nassau and Suffolk Counties on Long Island have some of the highest foreclosure rates in the State of New York. President Obama’s programs have not stopped foreclosure rates from rising.
It is estimated that it takes approximately 2 ½ years for lender to complete a foreclosure proceeding and take title to a home in New York State. Homeowners who are losing their homes lose motivation to maintain their property. This causes a blight on their neighborhood which has a negative effect on the surrounding homes in their community.
Loan Modifications
Lenders in the United States are doing a terrible job in processing loan modifications. The process is slow, painstaking and yes poorly managed by the financial institutions.
The housing problems in the United States are slowing down the economic recovery. More has to been done by financial institutions to modify mortgages and allow homeowners to stay in their homes.
Foreclosure Defense Lawyers In New York City and Long Island
Law Offices of Schlissel DeCorpo represents homeowners whose homes are in foreclosure. We assist the homeowners with mortgage modifications. We litigate issues involving defective foreclosure lawsuits, predatory lending, defective mortgages and real estate problems in general. Our attorneys are familiar with the federal laws involving foreclosure.
Sometimes the best way to deal with a foreclosure proceeding is to file foreclosure related bankruptcy. In these situations we file either Chapter 7 or Chapter 13 bankruptcies on behalf of our clients. These bankruptcies stop foreclosures, stop debt collections and allow our clients to obtain a fresh start. Feel free to call us for a consultation.
