BANKRUPTCY LAW – Foreclosure

People sometimes make the mistake of assuming that bankruptcy always happens because a person made poor financial decisions. Maybe they took on too much debt. Maybe they had reckless spending habits. Maybe they just weren’t smart with their money and they lost...

Foreclosure does not happen right away. If you miss a single mortgage payment, your lender is not going to foreclose. It usually takes numerous missed payments, along with multiple notifications from your lender. Once this starts happening, though, you may feel like...

Managing the risk of a foreclosure can be a genuinely stressful experience for a homeowner. If you’re weathering this situation, the looming threat of losing your home, coupled with financial strain and legal challenges, can take a significant toll on your well-being,...

Is foreclosure the end of your homeownership dreams forever? When it seems like foreclosure is a real possibility, this may be one of the number one questions on your mind – but you can take some solace in the fact that no stain on your credit lasts forever.  With...

Love them or hate them, homeowners associations (HOAs) are a fact of life for a lot of New Yorkers – and they do have some value when it comes to helping preserve a community’s way of life and maintaining property values. They can also become a nightmare for...

Whether it’s called a Notice of Acceleration, a Notice of Default and Acceleration or something different, receiving this letter in the mail is a serious issue.  It means that you’ve essentially triggered an acceleration clause in your mortgage by missing too many...

Individuals who are considering filing for bankruptcy typically do so because they are experiencing severe financial difficulties. However, filing for bankruptcy can have serious long-term consequences for your credit rating and finances, making the prospect of doing...

When times are financially tough, homeowners often have a distinct advantage. They can tap into the equity they’ve built up in their homes through home equity lines of credit (HELOCs) and home equity loans. While these options can help homeowners access much-needed...

When a homeowner realizes that they can’t make their mortgage payments, it may seem like the end of the world. This stress is often coupled with the stresses associated with an inability to pay other bills and meet other financial needs. For some, the need to regain...

Foreclosure happens when someone fails to pay their mortgage. As long as the lender gets the monthly payments, they don’t interfere with homeownership. But if those payments stop, the lender may try to reclaim the home and sell it to a third party, getting back their...