If you’ve been getting delinquent, default, demand or foreclosure notices from your lender, you need an experienced NY foreclosure defense lawyer to help you fight back.
No homeowner wants to find themselves in a foreclosure situation and at risk of losing their home. However, circumstances may arise – such as losing a job, health issues, or other unexpected scenarios – that can result in falling behind on your mortgage and missing regular payments to your lender.
Gerard Law Firm can help. Contact us immediately, because the sooner we can get ahead of the potential foreclosure the better your chances of securing a positive outcome and protecting your credit from long-lasting damage.
Though you risk incurring fines and penalties, missing one mortgage payment won’t automatically trigger foreclosure proceedings. If you’ve missed a mortgage payment but are able to pay it within 15 days of the original payment date then do so as quickly as possible. If you think you may miss a 2nd, 3rd, or even 4th mortgage payment – contact us as quickly as possible so that we can begin advocating on your behalf and help explore your options.
If you’ve missed 2 or 3 mortgage payments, you’ve likely received a Notice of Default or a Notice of Demand from your lender, by email, phone or a letter to your home. These documents represent looming foreclosure proceedings and should be taken seriously. You still have time to try to work out an arrangement with your lender, but you need to act quickly. Contact Gerard Law Firm so we can help you navigate your options.
Once you’ve missed your 4th payment or the final deadline to pay, the foreclosure process will usually begin. This starts with a Notice of Default, and a Notice of Sale will soon follow if you aren’t able to bring your payments up-to-date. By the time you receive a Notice of Sale, meaning the house has been auctioned or sold you may be completely out of options. Contact Gerard Law Firm as early as possible for help with offsetting negative outcomes.
Depending on the type of notice you’ve received, your specific financial circumstances, and how far you are behind in your mortgage installments – Gerard Law Firm may be able work directly with your lender to determine an agreement that will allow you to stay in your home or protect your credit. We may also be able to locate a new lender or bank through which you can refinance the home.
If keeping the home proves impossible, Gerard Law Firm can work with the lender – or with an investor – to agree upon a selling price and avoid a foreclosure or auction of your property. Though profits will go to the lender, a short sale can help protect your credit and enable you to secure another loan when you are ready to buy again.
A qualified attorney, such as one from Gerard Law Firm, may be able to lengthen the amount of time you can stay in your home after you are served with notice. This will give you greater opportunity to get your affairs in order and locate another living arrangement.
Certain foreclosure cases may qualify for a counter-suit. Counterclaims can reflect liability back at the financial institution through examination of ”truth in lending” violations, predatory lending practices, fraud and other civil lawsuits. Provide Gerard Law Firm with the specific details of your loan and your circumstances so that we can determine if a countersuit is an option for you.
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