Short sales NYC

Is this property really worth fighting for, or should I sell it?

September 9, 2013 by ernest

If you are now in a foreclosure, your choices are limited. However, help is available, and you have several options to stop the foreclosure process.

If you have owned your house, and your name is on the deed, for an extended period, or you have significant equity on your property that you want to save, the following options may apply to you.

A loan modification can decrease the banks approach towards your property in question. If you are able to lower your monthly mortgages payments by half, or a third of what were prior to your current financial crisis, your chances of staying in your home will increase. Not all banks will hand out a loan modification.

A more damaging method in avoiding a foreclosure is filing for Chapter 13 bankruptcy. This motion will ruin your credit for years to come, and may produce other side effects years later. Chapter 13 bankruptcy will offer the immediate protection on your assets, and it will offer you the unique opportunity to catch up on outstanding payments within a time frame of 3 to 5 years.

Both a loan modification and a Chapter 13 bankruptcy, will provide temporary relief to a long term problem. One other method in dealing with an impending foreclosure is to find an investor to buy your home directly from you. Premier Real Estate NYC is a company that helps homeowners in all three methods: loan modification, Chapter 13 bankruptcy, and selling your home. [Read more...]

Understanding the Foreclosure Process in New York City

September 9, 2013 by ernest

If you, or someone you know, has recently been served with a summons for foreclosure, you should contact a financial expert, or real estate professional immediately.

What does it mean that your bank is coming after your home to redeem its collateral? Since you have been unable to make your monthly payments the bank is losing money. As a result they are going to take legal action in order to obtain your home in the hopes of either turning a profit, or at the least, cut their losses.

Foreclosure litigation differs from most other types of litigation. A foreclosure is made up of seven unique steps. This process can last between 18 and 24 months to finish; however if you ignore the summons, and disregard the bank’s notices, than you could be losing time and valuable options that are time sensitive.

If you are a number of months behind on your mortgage and you have already made the attempt to modify your loan, you may find yourself limited to only a few remaining options. Premier Real Estate NYC is here to encourage you to investigate your options. You are entitled to a free consultation with one of our real estate experts. You will find answers to all of your real estate and legal questions here. [Read more...]

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How can I stop foreclosure in New York

September 9, 2013 by ernest

In New York City: Manhattan, Brooklyn, the Bronx, Queens, Staten Island, and surrounding areas like Long Island, Westchester, and Albany, homeowners have a variety of options to prevent a foreclosure.

With numerous ways to end, or slow a foreclosure, it is best to get professional advice and find answers to all of your questions. Premier Real Estate NYC is a full service real estate company, which specializes in foreclosure consulting. It has provided dozens of people a way out of their foreclosure. Its legal department provides valuable information that can save you from your lending institution.

Several means to avoid foreclosure are actually provided by state, and or federal law. One example here is Chapter 13 bankruptcy — Chapter 13 bankruptcy is a way to keep your home. The Chapter 13 plan, will allow you to pay back, retroactively, all of your past mortgage payments. It is strongly advised not to file for Chapter 13 bankruptcy if possible. One alternative method, which is offered by Premier Real Estate NYC, is to find a buyer, or investor who will offer you cash for your home.

In this scenario, a homeowner will be set free from his or her mortgage and will be allocated a certain amount of money from an investor. In some instances, the investor may offer to relocate the homeowner and his or her family. [Read more...]

Filed Under: Uncategorized Tagged With: foreclosure nyc, foreclosure nyc 2008 housing crisis, free foreclosure consultation, Homeowners in New York state should be aware, How can I stop foreclosure in New York, oreclosure, real estate nyc, short sale nyc, Short sales NYC