Short sales NYC

Tips on How to Prevent Your Home from Going into Foreclosure

February 7, 2014 by ernest

Tips on How to Prevent Your Home from Going into Foreclosure

Many people in NYC have felt the pressure of the 2008 housing crisis. They have worked hard at trying to keep their mortgage payments up to date, medical bills paid, and other credit card debts in order. Seeing how people were going through foreclosures NYC was stressful, especially seeing their own friends go through the process.

Unfortunately, with so much effort, people still have undergone foreclosures in NYC. It was only a matter of time due to the state of the economy. If you’ve found yourself in this situation, and have exhausted your savings, there is still hope if you act now.

Create a Budget and Stick to It
Your home mortgage loan is your main debt to cover monthly. Seek out other government programs to cover utility and food costs. Find cheaper methods of transportation such as carpooling, taking the train, or biking to work. [Read more...]

A Short Sale Prevents Foreclosures and Gives You Your Rights Back As a Seller

February 5, 2014 by ernest

A Short Sale Prevents Foreclosures and Gives You Your Rights Back As a Seller

Since the 2008 housing crisis, infomercials, radio ads, billboards, and many community presentations have opened homeowner’s eyes to see that their future is not doomed to a foreclosure. In fact, many specialists have worked in the real estate and loan mortgage industry for years and know how to deal with saving homeowners’ homes. They work with them to help them understand their options should they decide they just want to start over and not be held under water during such a tough time.

Unfortunately, the option of a short sale has received much negative publicity. One of the worst rumors is that sellers have, no rights, and little leverage when they undergo a short sale to prevent a foreclosure. That’s why it’s important to deal with a professional. They can get you on your way to a better future. [Read more...]

Filed Under: Uncategorized Tagged With: 2008-housing crisis, foreclosure nyc, Foreclosures NYC, premier real estate nyc, short sale nyc, Short sales NYC

How Do Loan Modifications Work?

February 4, 2014 by ernest

Understanding Loan Modifications to Avoid Foreclosure

If you have been afraid of joining the millions of Americans that have fallen into the foreclosure process, it’s time to act now. The foreclosure crisis has hit hard in New York City. Some homeowners are only starting to learn about their options now. Here are a few tips on understanding the loan modification process and why it’s important to work with a professional who is experienced in dealing with one. Going through hardships are sometimes out of our hands, and to be displaced because of it is a tragedy. Premier Real Estate NYC has helped hundreds of homeowners in New York City climb out of the foreclosure process.

What Exactly is a Loan Modification?
Simply put, a loan modification is a way to make a homeowner’s mortgage more affordable. Interest rates, late fees, the length of the loan, and other processes are put into place to help with the monthly payments.

Do I Need Documentation to Submit with My Loan Modification Application?
Yes. Your lender will go into more detail with you. However, some of the documentation you should expect to have included your home valuation are the following: W2’s, bank statements, federal tax returns, and paycheck stubs. You’ll also need to prepare a hardship letter.

Having all the necessary paperwork and completing the application is key to being approved quickly. That is why many NYC residents turn to a specialist like, Premier Real Estate NYC, to help them complete the process.

What Value Can a Loan Modification Specialist Bring to the Table?
A loan modification specialist will not only help you complete your application, but see you through the end of the process. Should you not be eligible, they can help you with other options, such as a short sale. [Read more...]

Filed Under: Uncategorized Tagged With: 2008-housing crisis, foreclosure nyc, Foreclosures NYC, premier real estate nyc, real estate nyc, short sale nyc, Short sales NYC