Common Questions about Foreclosure in Long Island

Long Island Foreclosure Defense Lawyer

What do I do if I have been served a notice of foreclosure?

You have very little time to address the problem before your house is repossessed by the bank or other lender. If you have already received a notice, or expect to in a short period of time, the legal actions you take now can make a significant difference on the outcome of your specific case. A Long Island foreclosure defense lawyer from Blutter & Blutter should review your personal situation at once, as you could have excellent options that could be to your benefit.

Should I contact one of the firms that is promoting foreclosure defense in Long Island?

There are many firms that have jumped upon the bandwagon in the foreclosure business, either debt resolution firms or others. Some of these activities are legitimate, and some are merely preying on people who are in real trouble. If you are facing foreclosure it is important that you have every possible option to resolve the issue, not a cookie-cutter solution. Your case is unique and should be addressed on an individual basis. Some have loan documents that were never properly written or filed, allowing for legal action against the lender, some have fraudulent documents, and some have suffered from violations of the federal Truth in Lending Act. An attorney from the firm can evaluate your situation and determine the best course of action, and give you trusted advice.

Can I walk away from my mortgage and property?

If you believe that the property is no longer of any value to you, you could walk away from a mortgage, but how this is done will have a big effect on your financial future. You could be faced with a huge debt and tax liabilities if you don't manage the process carefully and correctly. The firm can help you if this is your choice.

Is a short sale a good solution in a foreclosure?

In many cases, a short sale is the best option. How the short sale process is managed can be crucial, as if you fail to correctly arrange it, you could find that you owe the "shortfall" between the final sale price and the amount you originally mortgaged the home for. Never attempt to short sale without help from a legal professional that will protect you from facing tens of thousands or more in debt.

Contact a Long Island foreclosure defense lawyer from the firm at once to get your questions about your individual foreclosure case answered.