Short Sales and Loan Modifications in New York City and other NY areas. Let our lawyers and attorneys negotiate the best terms for you.
For having the nation's largest and most well-known city, New York has a surprisingly low rate of foreclosure compared to other states. However, with such a huge population, there are still thousands of people that need help in order to continuing paying their monthly mortgage. New York Loan Modification and Short Sale
If you are someone in New York looking for a loan modification or short sale, our attorneys provide a great choice to represent you. We successfully work with homeowner's lenders to achieve workouts that give residents desirable solutions such as more affordable paymens and/or the forgiveness of debt among others.
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Our success is a testament to the expertise of our loss mitigation specialists, but if you don't act with urgency, it's much harder to help. Don't wait another second - use the form to the right or give us a call and start getting help.
New York Housing Outlook
In terms of sheer numbers, places like Queens, Manhattan, Long Island and other areas apart of and near New York City lead the way for housing problems in the state. This won't change, but other areas are affected at higher rates per household:
You can overcome your struggles to keep up with your mortgage. You have to seek help so simply take the next step and give us a call today or fill out the form for a free consultation.
NEW YORK Loan Modification
The state of New York is one of the fortunate states in the country wherein their state average of foreclosure is still below the national average. The country had posted an average of 71% increase in foreclosure filings during the 3rd quarter of 2008. But the state of New York only increased by 19% far less than the national average. The state of New York even experienced decrease in filings in the middle of the year while the whole country is still experiencing double digit increase of foreclosure filings.
But keeping the numbers at bay are far more difficult than the state has imagined. Investors, businesses and real estate professionals have a positive outlook for the real estate industry for the state. This has become possible because of the direct involvement of the government to help the individuals cope up with the foreclosure problem. Even though the filings have been lower, the number of foreclosure still increased when you compare the numbers to the previous year.
That is why with the increased number of individuals needing assistance, help might not be as swift as before. If you are facing foreclosure in New York, you might have a harder time seeking assistance compared to few months ago when foreclosure could still be addressed quickly.
Loan Modification as an Option
Aside from the aggressive government assistance to prevent foreclosure. Loan modification companies are also a viable option for those who are facing foreclosure soon. They might even be of assistance if you have mortgage delinquency as you have missed a few months of mortgage payments.
A loan modification company is basically a business that offers services in helping you negotiate your current terms and conditions on your mortgage. Through their assistance, you can make some changes on your payment terms, monthly payments and even negotiate a few hundreds or thousands dollars off in your missed payments. Although the ideal result sought by these companies in your behalf is to lower down the principal amount, negotiating to lower down other payments is also a viable option.
Of course, this type of negotiation could be done even without the assistance of a loan modification company. But your negotiation could be easily denied especially if you don't have the right paperwork so that you can prove that you actually needed assistance.
Qualifying for Loan Modification
The first thing you need to know about loan modification is that this type of service can't be availed because you want to. This type of service is only limited to those who are in trouble with their finances and because of that, they are unable to pay for their monthly mortgage.
Before you can qualify for loan modification, you need to prove that you are indeed someone who needs assistance, badly. You need to prove that you are unable to pay the current mortgage arrangements. That's where loan modification come in - you need to have their services so that you can easily prove you need assistance and be allowed to negotiate your current mortgage terms and conditions.