Options To Avoid Foreclosure In New York
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After recognizing your dire financial situation, you should discuss your
case with a knowledgeable attorney from our firm. At E. Waters & Associates, P.C.,
we have helped hundreds of individuals obtain loan modifications and pursue other routes to avoid foreclosure. When you are assessing your
foreclosure options, we encourage you to discuss the situation with our
firm's attorneys. In some individuals' circumstances, they may
even be able to keep their house. Some of the foreclosure options you
have available include:
Deed in lieu of foreclosure: Deed in lieu of foreclosure allows the property to be paid back to the
lender. You can lose your property but will avoid damaging your credit
in the way that a foreclosure would. You can avoid a formal foreclosure
proceeding and eliminate foreclosure costs with the use of this foreclosure option.
Chapter 13 bankruptcy: Filing a Chapter 13 bankruptcy to reorganize and consolidate your debts
is often a good option for individuals looking for options to avoid foreclosure.
Chapter 13 is a powerful way to immediately stop the foreclosure process.
The lender of your mortgage loan may approve a modification. Some of the
mortgage loan modifications include special forbearance, mortgage modification, partial claim, and
pre-foreclosure sale. If your lender allows you to refinance or extend
your loan, you can provide more affordable payments.
Short sales are one way of avoiding foreclosures and take place when the
lender agrees to take a loss on the full outstanding balance on the mortgage.
This process can stop foreclosure and help you avoid facing a negative
impact on your credit.
Our Foreclosure Defense Attorneys Offer Unique Representation for Each Client
At E. Waters & Associates, P.C., we understand that no two cases are
the same. For that reason, we can prescribe a unique solution for each
individual who comes to us for a case evaluation. We want to help you
in the best way possible and can determine the best route for your circumstance.
Contact us at your earliest convenience!
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