Strategic Default: Long Island Foreclosure Lawyer
What is a Strategic Default ?
A strategic default may be able to help you save thousands and thousands of dollars. There are certain instances when conscientiously defaulting on your mortgage payments may be your only financial solution. If your home is worth less than what you own on it, defaulting may be the only way to save you the money of paying for a house that has plummeted in value. Contact a Long Island foreclosure attorney today to find out more about how this process should be undertaken, and if it is the right move for you in your specific case. Depending on where you live and the particulars of the case, your lender may forgive you the amount you owed on the mortgage so that after the foreclosure, you are no longer responsible for that money owed , and resolve the issue with a deed in lieu of foreclosure. This process must be carefully managed by a trusted law firm, as you could be facing owing tens of thousands of dollars or more in a deficiency judgment if negotiations are not done correctly. A strategic default should only be undertaken with legal counsel to evaluate the situation before making any decisions. Contact Blutter & Blutter today to speak with an experienced lawyer who may be able to help you decide is strategic default is the right move for you.
The firm is very familiar with all the options that could be available to you, including how to manage a strategic default, and has negotiated favorable terms for countless clients during the current economic crisis, as well as over their many years in practice. The firm could help you determine if you r situation is best resolved by a short sale, a strategic default, deed in lieu of foreclosure or a bankruptcy. The firm is dedicated to personal legal representation, and you will always get the individual legal help you need. You will never be referred to a paralegal or secretary; rather, you will always be able to speak with your attorney about the details of your case.
Contact a Long Island foreclosure defense lawyer today to find out if a strategic default is the right move for you.