Foreclosure

Bankruptcy and foreclosure are often talked about together because they are related to financial issues people may be having. Someone who is facing foreclosure has stopped making mortgage payments, likely for a few months before the lender would even initiate this...

Various financial challenges can arise in homeownership, leading homeowners to seek solutions to alleviate their burdens. One such solution that has gained popularity over the years is mortgage loan modification. A mortgage loan modification is a negotiation between...

After years of making payments on a property, a New York homeowner will feel strongly about protecting that investment. After all, no one wants to lose out on years of home equity due to short-term financial hardship. People may let their other payments fall behind,...

Foreclosure is the process through which a mortgage lender reclaims a property for which they previously financed a purchase. The property itself serves as the collateral for the loan, and if someone defaults on their mortgage and misses multiple payments, a lender...

When you buy a home, you don't think of losing it unless when selling it - but lenders taking and selling it may be the last thing on your mind. However, foreclosure can happen to anyone, even those who have thoroughly planned for their mortgage payments. While this...

For years, you have reliably made your mortgage payments every month. However, perhaps due to financial issues outside of your control, you finally missed a payment. Instantly, you begin worrying that you’re going to get a notification from your lender saying that...

When you default on your mortgage payments, your property will enter foreclosure. This process allows banks and lenders to recover their dues by selling or possessing the property. Foreclosure often takes one of these two paths. The lender files a lawsuit to initiate...

At the end of 2022, New York Gov. Kathy Hochul signed the Foreclosure Abuse Prevention Act (FAPA) into law. The legislation passed with bipartisan support in both houses of the state legislature last year, but the governor, delayed signing it throughout her campaign...

If you’ve been finding it difficult to make ends meet, you’re not alone.  One of the options you might have looked into is a mortgage loan modification. It may be just what you need in order to take control of your finances, get yourself back on track and ultimately -...

People who own a home understand the importance of making their payments - but changes in circumstances, such as a job loss or serious illness, can cause them to fall behind. When the mortgage isn’t paid, the mortgage company will take steps to get its money. One of...