YOur MAHOPAC LAWYER: Call for a free consultation-(914) 263-9779
Your Mahopac Foreclosures Lawyer
The home is not only a financial but also an emotional investment, and integral part of the "American Dream." Especially in a difficult economy, people can have trouble paying their mortgages, often through no fault of their own. Fortunately, banks are more willing than you may think to restructure loans, and as your Mahopac lawyer, I will do all I can to save your home!
If you are having trouble paying your mortgage, or if you are facing a foreclosure action, you have more protections than you may think, and as your Mahopac foreclosures lawyer, this office will help you save your home or make for a smoother transition. These include both procedural and legal defenses, as well as the possibility of restructuring your mortgage or entering into a loan modification. Jonathan Victor has worked with Chase, Deutsche Bank, Wells Fargo, and other lenders concerning mortgage issues. Jon takes an aggressive approach when necessary and will not tolerate bank losing paperwork or causing additional distress to his clients!
Sometimes, especially with the decline in real estate prices, homeowners owe more on their homes then the homes' current worth. In these situations, banks will sometimes offer to accept a deed-in-lieu of foreclosure, which means the homeowner deeds the property back to the bank and the bank forgives the loan, or a short sale, in which the homeowner sells the home for a price short of the outstanding mortgage balance, the bank accepts the sale price and takes the proceeds, and forgives any remaining loan balance. In fact, sometimes the banks will even give homeowners some cash to relocate and establish a new home.
Courts have many procedural safeguards to ensure that homeowners do not lose their home without a fair opportunity to work out a mortgage modification or a private sale. This office can help you navigate this process, as well as make sure that the mortgage servicer has to prove its case before the Court considers letting it proceed with a foreclosure. For example, many lenders assign or sell the mortgage and underlying promissory note to another institution. The assignee sometimes has trouble providing "standing," i.e. that it holds the mortgage and promissory note and the right to sue. This office will point out the mortgage servicer's defects if necessary, to prevent an unwarranted foreclosure.
Contact this office for a free consultation at (914) 263-9779 and it could save your home!