Foreclosure Defense Lawyer in Brooklyn New York
Zealous Foreclosure Defense Representation
Being threatened with the possibility of foreclosure is frightening. Will you lose your family home? Where will you go if you do? There are numerous challenges that a family will face when their home could be foreclosed on in the near future.
It is critical that you do not wait to act and obtain the advice of an experienced foreclosure defense attorney as soon as you learn that your bank or mortgage lender intends to foreclose on your home. At the Zeltser Law Group, we can mount a zealous defense using tried and true strategies that will increase the chances that you will be able to keep your home.
Often, an individual or a family will learn that their bank or mortgage lender intends to foreclose on their home by being informed that they are a defendant in a lawsuit pertaining to their mortgage. The idea of being involved in mortgage litigation with the bank's powerful attorneys can be unsettling, and without adequate legal representation, you stand to not only lose your home, but also face the high costs of litigation.
At the Zeltser Law Group, we take mortgage litigation seriously, and are prepared to provide you with an aggressive defense aimed at reaching an agreement that is in your complete and total favor, and allows you to keep your home.
In today's precarious economy, families are finding it more and more difficult to meet the obligations set forth by their mortgage lender. As a result, they may fall behind on their payments and their lender may send a notice of foreclosure. If this has happened to you, a loan modification may be an option to help you keep your home and change the terms of your mortgage to better meet your circumstances.
However, obtaining a loan modification is not always easy, and it often requires the expertise of a seasoned foreclosure defense attorney. At the Zeltser Law Group, our experienced lawyers have worked with lenders and clients to achieve a mutually beneficial loan modification that ultimately creates a positive outcome for the client.
A short sale involves the sale of a real estate property where the amount of funds received from the sale of the property will fall short of the total balance owed on the property to the mortgage lender, but the lender agrees to waive the remaining amount owed.
Although a short sale typically goes faster than a traditional real estate sale, it can be doubly complex. However, when completed successfully, a short sale will allow the homeowner to avoid foreclosure and maintain a positive credit rating.
A short sale typically requires the help of a veteran foreclosure defense attorney, and the lawyers at the Zeltser Law Group are able to provide you with the zealous advocacy you need to negotiate favorable terms for the sale.
Deed In Lieu Of Foreclosure
Another way to avoid foreclosure is to consider a deed in lieu of foreclosure. This takes place when a borrower transfers all interest in a property to the lender in order to satisfy the defaulted mortgage loan. There are many benefits for both the borrower and the mortgage lender; however, failure to properly conduct a deed in lieu of foreclosure could have a negative impact on the borrower.
At the Zeltser Law Group, we can help you determine if this method is the best way to help you avoid foreclosure, protect your privacy and satisfy the obligation you have to your mortgage lender.
The Bank Is On A Timeline, But You Have Options
If you receive a foreclosure notice in the mail, try not to panic. You have legal options available, but you must act fast to preserve your rights. By talking to a lawyer right away, you have a better chance of keeping your home. The law requires the bank to follow a strict timeline that you can use to your advantage.
At Zeltser Law Group, we help our clients deal with the anxiety of foreclosure by providing guidance when they need it most. We can help you understand every step of the foreclosure process as well as the foreclosure defense options you have at each step. We will work together to find the best outcome for your situation.
Foreclosure Proceedings In New York
When you fall behind on your mortgage payments, the bank or mortgage company will typically send you a 30-day notice of default. This notice will lay out what you must do to bring your payments up to date. The bank must send another notice 90 days before they can start a foreclosure action. During this time, late fees and interest keep accruing.
The banks must follow certain requirements for these notices, but they often misrepresent dates and other critical information. You need a foreclosure attorney to review the notices and determine if they are enforceable. At Zeltser Law Group, we can help you evaluate your options and decide what to do next.
How Much Time Do I Have?
The good news is that homeowners have more legal protections since the Great Recession. Banks and mortgage companies must follow many steps before a foreclosure, giving you more time in your property. The mortgage company often takes several months to initiate the foreclosure process by serving a summons and complaint. You must answer the summons and complaint to preserve your rights.
Several more months may go by before the court orders a sale of the home. In New York, the sale typically takes place about four months after the court order. It is not uncommon for a span of about two years to go by between the initial notice and the sale. In that time, the value of your home could increase or your financial situation could recover.
You can pause the timeline in a few different ways:
Order to show cause
Temporary restraining order
Reinstatement of the loan
The most important step you can take to preserve as much time as possible is to call an attorney right away. With our help, you can manage the process better and, perhaps, even find an alternative where you can keep your home.
Avoiding Foreclosure When Your Home Is At Risk
An uncertain economy has made it harder for families and businesses to keep up on their mortgage payments. If you are in this situation, you are not alone.
Many people are finding that their properties are at risk of foreclosure. You need a strong legal advocate looking out for your rights to help you avoid foreclosure.
At Zeltser Law Group, we understand how scary foreclosure is.
We know how important your home or business is to you, and we will fight for you to keep it. We have successfully helped many clients in Brooklyn and the surrounding area avoid foreclosure. If you are seeking help for home retention, we can provide skilled foreclosure defense.
What An Attorney Can Do For You
Even if you fall behind on your mortgage payments, there are still ways to keep your home. With the help of a skilled lawyer, your options may include:
Loan modification — We renegotiate your loan terms with your mortgage lender to make payments more manageable.
Defense against foreclosure proceedings — We provide foreclosure defense, along with other litigation issues, such as challenging the lender's notice practices.
Short sale of your home — Short sales help avoid foreclosure by selling the home for less than the amount outstanding on the mortgage. The lender must approve these sales, but often work well for everyone involved.
Knowing the timeline the bank is following — The laws regarding foreclosure include a strict timeline, which you must understand so that you do not miss important deadlines.
We will go through every option with you to make sure we create the best legal strategy for your situation. In addition, banks often respond better to attorneys.
They may be more willing to negotiate with an attorney because they know the attorney will handle the paperwork correctly, removing the burden from them.
The New York laws relating to mortgages and foreclosures are changing all the time. Therefore, you want to work with someone who understands these laws and will advocate for your interests.
Call The Zeltser Law Group Today
Don't let the fear of foreclosure freeze you into not taking action immediately to protect your rights and your property under New York law.
Our seasoned foreclosure defense attorneys can help you explore a wide variety of legal options that may allow you to keep your home or renegotiate the terms of your mortgage, and we will go to bat for you against unscrupulous mortgage lenders and banks.
To schedule your free 30-minute consultation, call our Brooklyn office at 718-831-2529 or contact our firm online.