Foreclosure
What once gave great opportunity now threatens to take everything away. In
economically difficult times the loss of one's home is an
alternative that is just too frightening to face. Foreclosure is a
traumatic and terrible experience. It's about more than
bricks and mortar - it’s about the very foundation of day to day
life.
It used to be that if you got into trouble you could sell your way
out but “under water” mortgages (you owe more than your house is
worth) and a depressed housing market render that option unavailable
to many.
There are
options. Each carries with it advantages and
disadvantages Some may be available to you and some may
not, but they are options. It’s important for you to
know what they are and to be guided through the process
that will allow you to understand and assess them and
decide which, if any, will work for you. They are:
- Bankruptcy
- Negotiation of a "Short sale"
- Negotiation of a "Forbearance Agreement"
- Fighting (Defending) the foreclosure
- Surrender of the property (*Deed-in-Lieu")
- Refinance
- Reinstatement
- Loan Modification
We are a Garden City, New
York based law firm with additional offices in the City of New York, made
up of a dynamic group of attorneys who have more than 50 years of
combined experience in all aspects of real estate and bankruptcy
practice and are extremely familiar with all alternatives to
foreclosure, how to select the option that is best for you and to
see the selected alternative through to its conclusion. Our goal is
the achievement of the goal you select.
These materials have been prepared by Keith, Shapiro & Ford, for
general informational purposes only and are not intended and should
not be construed as legal advice or legal opinion on any specific
facts or circumstances. Every case is unique. The information
contained in this website is not intended to create, and receipt of
it does not constitute, a lawyer-client relationship nor is it
intended to substitute for the advice of an attorney. Internet
subscribers and on-line readers should not act upon this information
without seeking professional legal counsel. This website constitutes
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