Hurricane Sandy devastated New York City. Staten Island, Queens, Brooklyn and parts of Manhattan are still recovering from the storm. Since the 2008 housing-crisis, foreclosures have been on the rise throughout New York. The super storm further damaged a city that is trying to climb out of the affects of the 2088 housing-crisis, and sluggish economy.
This year has seen more than a 1,000% increase, as a survey from RealtyTrac shows. In addition to inflated interest rates, high rates of unemployment, and a recession, many homeowners have struggled to capitulate to the demands from their lending institution. Many banks will have little, to no regard for the hardships of the borrower.
Premier Real Estate NYC has been one of the biggest advocated for homeowner rights, and has helped dozens of homeowners steer clear of foreclosure, and financial hardship. Since Hurricane Sandy, Premier Real Estate NYC has seen a rise in the company’s approach to handling an impending foreclosure.
There are many programs available to the average homeowner, which he or she may not know about. The bank will not be the one to offer incentives, or fast tracked programs to help the homeowner remove itself from making monthly payments.
Homeowners who are nearing foreclosure, or believe they may be entering a potential hazardous financial situation need to find professional real estate help, and legal advice.
Since Hurricane Sandy, many New Yorkers in neighborhoods like, Howard Beach, Queens, Far Rockaway, Queens, many areas in Staten Island, Manhattan Beach, Brooklyn, and the South Street Sea Port, are not able to find the cash to rebuild. Many of these New Yorkers had, and still owe hundreds of thousands of dollars to their bank.
There seems to be little aid stemming from the federal, and local chapters of government. It has become the duty of companies like Premier Real Estate NYC to remedy people’s housing situations.