Foreclosure is what many financial institutions and lenders initiate to seize the property when the homeowner is unable to make payment on his mortgage. At present the percentage of foreclosure has dropped the lowest since 2007. Still, many Long Island homeowners are facing the problem of foreclosure. What many homeowners facing Long Island foreclosures should realize is that just like any problem, there is a solution. In this case, finding a bankruptcy lawyer Long Island or foreclosure attorney Long Island. Here are three reasons why you need to hire a foreclosure lawyer Long Island or Long island bankruptcy lawyer.
First and probably the most important reason why you need a Long Island foreclosures lawyer is that a foreclosure lawyer can give you advise on non bankruptcy options. These non bankruptcy options are ways for you to prevent foreclosure without filing for bankruptcy. Depending on your case, this may be the right solution for you to keep your home and be able to pay for the mortgage in ways that you can afford. Second a Long island foreclosures lawyer is the best person for you to negotiate payment options with the bank. The Long Island foreclosures lawyer can negotiate for refinancing, for example. The mortgage modification can stop the foreclosure and at the same time allow you to pay on your terms. You can therefore keep your home and continue paying your mortgage. Third, as a Long Island real estate attorney, the lawyer can fight for your rights under the law. If you are a victim of unfair collection practices for example, the lawyer will see that and fight for your rights.