Short-sales in New York City have reached record numbers as a result of a spike in foreclosures since the 2008 housing crisis. Many New Yorkers have received professional help through third party sources such as legal offices and real estate investors. Without outside help it is extremely difficult to avoid a foreclosure with the bank. Most states are required to use the court system in order to succeed in a foreclosure. New York State is a judicial state, and requires banks to pass through the court system in order to pursue a foreclosure against a homeowner.

It is not likely that a homeowner will win without proper legal representation. Homeowners in Brooklyn, NY are provided a public defender to legally defend them against their lending institution; however, it is rare that a homeowner will defeat the legal team of the lending institution. Borrowers who live in New York City, especially areas like Bushwick, Brooklyn, and Bed-Stuy, Brooklyn have the ability to contact a real estate professional or legal team, like Premier Real Estate NYC.

Without strong professional help a borrower will not succeed against the legal representation of the lending institution. Avoiding a foreclosure is the first step, and in order to do so it is recommended that the homeowner contact a legal organization like Premier Real Estate NYC. All New York residents are able to find a solution to a foreclosure. [Read more...]