The real estate market is in full swing once again; it has regained its strength following the 2008-housing crisis. Areas like Red Hook, Brooklyn, and Hunts Point, Bronx are feeling the rush of real estate development. With rent rising in Manhattan, developers are scouting all areas throughout, Brooklyn, Queens, Bronx, Staten Island and Manhattan. Harlem was one of the first major sectors to find itself in the mix of gentrification and real estate development.

The 2013 government shutdown is punishing thousands of government workers in New York City. The housing authorities may soon issue notices in certain areas, that housing assistance may no longer be provided if the government shutdown persists. New Yorkers, and other city dwellers, rely heavily on city services to provide aid and assistance for social services such as, food, shelter, security, financial services, etc.

New York City is a far cry from cities like, Detroit and Baltimore, however, after hurricane Sandy, many New Yorkers were confronted by a failure of state and federal authority. There are too few services in general for homeowners reaching the point of financial crisis.

Premiere Real Estate NYC has helped dozens of borrowers over the past few years reach agreements with their respective bank. Many borrowers were surprised to find options that strengthened their case against the bank. Some homeowners thought they would not stand a chance against the bank; only to find out they would be able to keep their home. [Read more...]