Foreclosure notice of default in NY– what is it?

If you’ve gotten a foreclosure notice of default and want to know what the heck is going on, keep reading. Basically, a foreclosure notice of default is a document that has to be filed by a lender to start the process of foreclosure. The foreclosure notice of default must be sent to anyone who has … Continued

Help, I’m behind in my mortgage payments in Long Island!

When you fall behind in your mortgage payments on your home, it can feel like you’re drowning in debt. Even if you’re able to make your monthly payment, catching up on a past due balance can be an overwhelming challenge. There’s a few options that can help you to avoid foreclosure in and maybe even keep … Continued

What is a Pre-Foreclosure in Long Island?

With millions of homes across the country going into foreclosure, it’s important for both buyers and mortgage holders to understand the process. So what is a pre-foreclosure in anyway? Many homeowners across America and are facing difficulties making their monthly mortgage payments. When a homeowner misses 3-6 months of mortgage payments, the lending institution will issue a … Continued

How to Avoid Foreclosure in Long Island

While the housing market is rebounding, many people in ] are still struggling to make their mortgage payments. If you’re underwater on your home, or having trouble keeping up with your monthly mortgage payments, you could be fearful that your mortgage provider is going to foreclose. Thankfully, there are a number of things that you can do … Continued

How to stay in my home after foreclosure in Long Island

A recent study estimates that 47% of foreclosed properties are still occupied. When you first see that stat you may be surprised… but we’re not. What most people don’t realize is that banks aren’t in the business to own homes. They are in the business to loan people money. But when they have to foreclose … Continued

Understanding the Foreclosure Process in NY

Understanding the foreclosure process in is an important part of navigating your own home foreclosure. Before we dive in… What is foreclosure anyway? Foreclosure is the legal process that lenders use to take back property securing a loan, generally after the borrower stops making payments. Foreclosure is no fun.  But just know that it’s not the … Continued

Can I sell my Long Island house in foreclosure?

Do you have a house that’s in foreclosure right now? Many people going through the foreclosure process want to get out from under that burdensome house and wonder if they can sell the house in foreclosure. The short answer: yes. The long answer: it’s a little more complicated, but usually you can sell your property prior … Continued

Short Sale vs. Foreclosure – What’s the Difference?

Whether you’re a buyer or a borrower / seller, a short sale and foreclosure each present different advantages and difficulties. What Is A Foreclosure In ? In simple terms… “A foreclosed home is one in which the owner is unable to make his mortgage loan payments and the bank repossessed the home” (source).  If you … Continued